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Most used bolt action guns in a modern cal. are worth $350 or more including a Mauser action. The cal. was famous for wearing out barrels early, i have no exp. with that but even if the barrel was worn the gun would be worth it for the action and stock. This is all based on the a rifle that has nothing wrong with it, other then possibly the barrel, just normal wear and tear. A picture of the rifle would allow a much better guess.
I just bought a model 70 in 264. The 264 was known as a barrel burner but if you didnt ramp up your loads it was ok. Id say that its a pretty good deal considering what hes offering id snap it up.
If you don't want it I doo. Everything burns barrels. Cartridges that burn barrels are also cartridges that make dead things a long ways away. A feller needs to do alot of shooting to burn out a barrel. I reckon he'd get tired of venison long before the barrel needed setting back a 1/4"
Well - The devil is in the details - chances are its a one-of built up sporter. The quality and features will vary. Original military trigger, fixed floorplate, sights, D+T'ed, feed and extract properly, bedding? Also, given that the previous owner has reloading stuff, there may have been a few rounds put through it.
Having said that, a rifle with the right features is priced modestly at 350$.