A guy local to me has offered to sell a pre '64 Winchester 1894 lever gun.    The serial number puts it's year of mfg in 1956.   It's chambered in 30-30.    I have not personally viewed the firearm yet and will be doing so in a few days time.

He claims the gun functions normally and was advised it's safe to shoot by a local gun shop.   The finish is original, but is showing wear.    The rifle has been modified for a scope, and has several ugly holes drilled into the left side of the receiver.    Someone also screwed a sling stud into the butt stock and cracked the wood around it.    

My research so far suggests this rifle would be worth around $350 if it were unmolested (drilled for a scope) with a 70% finish remaining.    Given it's current condition with the cracked stock near the swivel stud, 70% finish, and drilled for a scope approximately what is this rifle worth?

BTW, the local guy wants $200 which sounds fair given it's condition.   However it's condition limits resale value and it will likely never appreciate in value beyond the $200 investment.

I'm open to suggestions, comments and insight.

If you want a beater truck or shed gun, sounds like it might be ok. Personally I would pay more and get something better.

My primary motivation was to buy it and flip it for a profit.   I doubt there is much if any profit in this gun.

I will probably grab it and ditch the stupid side mounted scope.   Im a lefty, so the scope is of zero use to me anyways.

My only insight is that I paid $450 for a pristeen pre-64 Winchester a month ago.  Take that for what it is worth.

Nice snag!    Either someone really, really needed some money or they had no idea what a pristine pre-64 Winchester was worth.

I was able to see the rifle in person today.   It's nicer than 70% and my local gunsmith says it was well worth $200.   He said the side mount was one of the better ones since it uses two of the holes already in the side of a pre-64.   Only 1 hole was drilled and tapped and it's easily filled with a plug screw.   For $200, I'm going to FO this rifle.

It was an older fella, advertised on backpage.  He said the one he was keeping was even nicer.  

I saw an older 94 on local backpage this AM for $280.  I didn't bother because I knew it was long gone.  The ad was gone within an hour, probably sold yesterday.  

I will buy just about any pre-safety 94 if it is in great shape.  I want to have an old western sheriff office gun rack full of them.  I recently stopped into a local pawn shop that usually has an entire row of used 94s and they didn't have a single one.

Please educate me if I'm wrong but I thought the whole "pre-64" thing was due to the Model 70 going form a controlled feed to a push feed, if so, how does it make a difference to a Model 94?

At some point they stopped using forged receivers and went to cast or MIM.  The bluing suffered and was quite uneven on some years.  Deep rich perfect bluing would be a pre-64.  As far as the internals, I don't have any knowledge of those changes other than the AE and safety model variants.

1964 to 1984 have very little......if any collectors value. Winchester made a lot of changes to the model 94.
Now when they change to the AE / angle eject, quality and better steal came back into play.

The Pre 64 model 94's also have internals that were machined from forgings and billets such as the shell lifter. 64 and beyond used roll pins where the pre 64's had solid pins or screws. Wood fit and overall finish on the pre 64's are also superior. Nothing functionally inferior with a post 63 model 94. Same can be said for a post 63 model 70. It's just that the quality of materials, fit, and craftsmanship is better on the old guns. People are willing to pay a premium for that. At one time, I owned a 1956 M94 and a 1965 M94. The contrast in quality was readily apparent. I kept the 56.

I've been into these for the last few years and in all honesty, their prices are all over.  I bought a really sweet original early 1940s 30/30 for $475. I also found a mint 1963 for $725.  I always check them out at gun shows and it just depends on the seller.  Some think they're like gold, others just are looking for a few bucks. Gun shows are where you'll find the best deals   If I came across one that had holes drilled in it, I would pass. Sometimes people modify the stocks to add a sling swivel and on those, I also pass.  Original replacement parts ar expensive.  People like to bash the post 64 rifles but they are fine rifles and there's really nothing wrong with them. I've seen their prices up there also.   I found. Alike new 1975 30/30 which I paid $400 for and I was very happy about it. By the way, have you seen the new winchesters made in Japan.  Talk about expensive.....