IMO? WAY too expensive for a machine with worn decals. The serial number lends to a model 66 from 1914. Model 66 machines are quite common. I'm guessing that it's a Redeye....or a Lotus decal?
The current caretaker spent too much having the machine serviced, because that's more than it's worth in my opinion. These old machines are so simple to work on, there's really no need to take them in to be serviced.
At best, I'd pay up to $100 for the machine and cabinet. The worn decals that you mention take a lot away from the value. For that much money, there are too many really nice machines out there.
When it comes down to brass tacks tho, it's all about what you're willing to pay....if YOU think it's worth the money, then by all means, you should get it, and no one else's opinion should matter!
