The red-filled frame engraving is worth a significant premium - provided it is genuine, and therein lies the problem. Navies are known to have been faked, both topstrap stamping (originally done by S&W) and left side engraving (which was not done by S&W). Therefore, Navies are always suspect, especially those with the left side engraving. It would be a good idea to get a factory letter to establish that it was originally shipped to a Navy location. That would verify the correctness of at least the topstrap marking. I don't know how one authenticates the left side engraving, as those can easily be faked. Someone else may be able to. Also, no one has yet explained when, how, or why the side property engravings came about, or who did them and where, at least, not that I am aware of. I have asked this same question in other postings, but with no replies ever received. By the way, if your SN is over about V267000, it's very likely to be a fake, as the Navy topstrap marking stopped around that time (early 1943).
This is one of those situations that some solid historical provenance would really help - Grandad brought it back from the Pacific after the war, etc. Even if it could be dated to have the side engraving back to maybe the 1980s or earlier, when Victories were dirt-cheap and there was no incentive to fake them, that would be somewhat convincing evidence of authenticity.
In the mid-2000s, I worked in a shop that had a computerized engraving machine. Believe me, it could duplicate anything, any size, any type font, even script. No more difficult than using a word processor. So the possibility of fake markings cannot be lightly dismissed.