Saw a Savage no.4 mk1 enfield at a local pawn shop missing the original rear sight with an added commercial rear sight on the barrel and the wood chopped down/off.
Has $239 on it if I remember correctly. Was tempted to pick it up and save it. Rear sight could be removed and the hand guard would cover the holes. Original rear sight and replacement wood can be found but expensive. I might go back in and offer $200.
Worth the trouble?

I just picked up a sporterized 1944 BSA Shirley this past week, metal untouched but needs everything as far as the stock and hardware goes. The buttstock, and handguards are easy to find, as well as all the hardware, the forend is unobtainable it seems like. And on top of that all the parts are going to be about $300-$350. I paid $150 for mine, but I know ultimately I'm going to be in the negative on it.

BUT, I think a big part of it is saving one, and while it's cheaper to buy a complete one now, 10 years from now that probably won't be the case. If you don't mind spending the cash I'd say go for it, but I would try to get it dirt cheap. I know the savages are a little more uncommon/valuable too so that certainly helps soften the blow, lol.

Liberty Tree has stock sets for the No4 for about $225.  The metal is not tough to find either.  I say do it on a No4.  It has holes in it already, make it into a No4 sniper clone if it shoots ok.

With that said forestocks for the No1 MKIII are nearly impossible to find.  I'd probably not try to turn one of them back into full dress due to lack of wood.

I would be hard pressed to take on the prospect of restocking a No 1 unless I already had the wood. As you say No 1 forends that are not junk are tough to find. One that had been broken in 2-3 places and poorly repaired sold on eBay recently for over $100. Decent No 1 front handguards are also getting expensive and hard to find.

A No 4 is a snap (relatively speaking) to find wood for, but forends are getting more expensive for them as well.

I would do it if you were me.

@ssgtcarroll

The holes are in the barrel at a typical sporting rear sight location. Think it's a williams sight someone put on. Guessing the previous owner had a scope mount in the rear sight location on the action but kept that part.

Not sure I'll get back by there for a week or two.

Post pics of you get it.

I would pass.   I would say at the price of restoration you need it to be around a hundred bucks,   And it’s already got extra holes in it.

Wait for a better specimen

Wood would cost a lot more than a hundred bucks.
Rear sights are pricey as well. Original milled ones are 60-80 each without any of the needed parts like the plunger, spring, and screw. The cheaper flip ones and stamp ones are around 30 each.

FWIW, Form Rifle Stocks in the UK is working on repro wood for Mk III SMLE's.  Nothing for sale yet - the latest is that their distributor is inspecting the stock sets - but i've seen their pictures of prototype forends and the other pices on Facebook and they look good.  You can also get them cut for the volley sights.

Just got mine in from them today. Some inletting the wood around the receiver and it slid right in. Condition of the wood is ok, some slight dents, walnut is dark.  Now my Enfield is back the way it originally was made.

I believe they meant picking up the rifle for $100. The rest of the parts cost enough making the cut rifle it's self worth about 100 bucks.
Was going to offer $150 but haven't yet.

did you get it OP?

I just picked up a sporter no4 off the EE

No/not yet. Looking at a Belgium guild shotgun at another place has my latest attention.

What did you give?

ETA I already have a fazakerley sporter no.4 mk1.

ETA  Low as they would go was $200. Also didn't have a magazine.