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The pic isn't clear. Is that an original Red Eagle? Also, to be really technical, the pistol in the pic isn't actually a Mark 1. It is a Ruger "Standard". The Mark 1 had target sights, The Mark 2 pistols were all "Mark 2's", regardless of which type of sights. (Flame suit on)
If it is a good old ordinary Standard, the value will be usually around $150-300, depending on condition, and how badly you want to sell it, or how badly someone wants to buy it. I have about 8 different variations of Standards, Mark 1, and Mark 2 pistols, including a stainless 1 of 5000.
These pistols are nicely balanced and easy to shoot. As they come from the factory, Mark 1 and Standard pistols don't stay open on the last shot. Anything later does.