I am king of cheap, so I would pay as little as possible, grinding all the way. But that is me. As to the value, I am in agreement that these days this sounds in the G range.
My thoughts on issues:
Issues are:
1) Refretted up to the 12th fret (This really isn't bad in my world. A good fret job means it was played a lot, and owned by someone who cared. Those are both good things. A really bad fret job means someone at least noticed. With hacks and dings in the finish, the frets if done nicely won't kill the vintage value of these things, which is still low in general.)
2) Electronics need rewiring (boogered). Bass sounds wrong with present wiring (mudbucker reads 28.6K ohms taken directly from the pickup but output at the jack is strange and unuseable. (It is in project status anyway, so poking around inside is half the fun. Plus, it has been messed with, so you can hot rod and not care too much)
3) Replaced 'Baritone' bakelite button w/toggle (If I had a penny for ever time. These are easily replaceable, and as long as they didn't gouge it up too much, no sweat. Also, you can do the cap/choke bypass mod with a dpdt if you are in the mood.)
4) Back of the neck pretty hagged (more than a comfortable amount of nicks and gouges...a couple severe. (Hagged is better than cracked. If it bugs you, sand, fill, refin so that you practically can't tell.)
5) Finish is about a 7-8 (sunburst faded and usual nicks, gouges and a number of worn spots) (Hooray - it is still there! Buff it out and enjoy!)
6) Non-stock handmade slightly weird large wooden case (I only mention this cuz I saw a 60's Gibson EB-2 case go for over $500 the other day...amazing (Bozos are in endless supply, and thankfully so are Jack Cassady cases. Buy one, and let bozos pay stoopid money for 60s cases - this one had an Epi case originally anyway. The weird case is funny, and has a handle you can use on something else when you throw the rest in the goodwill pile.)
7) No pickguard. (Get one cut, and stick an Epi E on it.)
