VERY nice M12, regardless of mfg year.
Value, like beauty, is in the eye of the beholder.
Hunters and collectors have different values. Hunters put value in patina and honest wear and tear. Collectors value pristine appearance.
Myself? I just appreciate the M12, regardless of condition. I've rebuilt 2 so far that were ready to be stripped for the parts dealers. Nu-Line custom guns is an excellent source for information and parts.
Far from an accurate statement of reality. Especially when it comes to firearms that are not considered exclusive with regards quality and rarity. The Model 12 being one, Even then there are "hunters" who buy the best of the best and use them. And this example while nice, falls far short of collector quality to a serious Model 12 buyer.
The gun store will have 1K on the tag, however they will offer $3-4 hundred max. Knowing it most likely will be a hard sell. Model 12's are currently not even a warm market item. 12 Gauges even less.
You obviously may be surprised of the number of serious Bird hunters who are using serious shotguns on a daily basis. Parkers, Fox, LC Smiths, some of the better old English and European shotguns. And they are far from patina beaters.