Do you know the year?? Is it an actual Winchester?? Does it look like somebody tried to do some work refinishing it?? If someone did a shotty job (ha no pun intended) re blueing it or something it would probably bring the value down.
Also what are you planning on doing with it?? I know that sounds dumb but i can't speak for the 16ga, but i have a really old Model 1897 12ga. I can't shoot steel, only lead. I can't run 2 3/4" shells in it, i need 2 1/2" (if i want to be safe and not ruin my gun eventually). 2 1/2" 12ga shells are fun to find trust me!!
Basically if you are getting it to shoot a bunch of clays or whatever with your buddies and if its gonna be your only shotgun and you just want it for shooting it might not be what ya want anyway. Maybe check the age and what shells you can use, alot of the 97 are 2 3/4" i think. I guess i'm thinking 12ga too, not 16ga!! 16ga might even be more scarce or expensive to find!
I'm not trying to scare you away, i love mine it's great!! Maybe just take into consideration why you want it or how it's going to fit into your gun collection etc. If you want it to shoot a bit and add to collection it's a sweet gun!! But as i said as cool as mine is it barely gets to see the range, when we can pick up a value pack of cheap target 2 3/4" loads for a 3rd of the price of the 2 1/2" (when i can find them) and take my buddies $150 side by side and blast away all day. And maybe yours will blast common shells too, but find out 1st if you wanna shoot it lots.
Hope this maybe helped?? Ha sorry didn't mean to get off topic and go preacher on you lol. I guess you were only asking value! Whats the sellers price anyway??