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The exact model, age and features of the gun can make a difference.
Is the finish polished steel or stainless?
Some folks polish their blue guns to make them look like stainless while others could be stainless.
Is the gun nickel plated?
Each of these models could be worth anywhere from $200 - $300 used, and probably closer to $300 if the finish is factory polished steel that's in like new condition.
Click on the links below to see the clearance sale prices of new ones.
Is it a Rogers & Spencer?
That London Gray model has their proprietary rust resistant factory polished finish that looks really great.
If it was truly stainless it would be worth even more.
How much are they asking for it?
As a point of reference, Dixie Gun Works carries the Euroarms Rogers & Spencer in the London Grey finish for $350 new (see articap's link above). Since it's used and doesn't come with the accessories, I'd offer $275. I'd pay no more than $300 for the gun without the box and accessories (a complete set of 6 spare nipples and the nipple wrench).
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