We're talking about a beat up 870, not a historical gun.
I bought another 870 in a little better condition from the same seller too.
These are the auctions I won:
The price of the project shotgun will be:
$142 (auction price)
$15 (1/2 of combined shipping)
$10 (1/2 of combined transfer fee)
$35 (folding buttstock)
$20 (mag tube extension)
$212 (total price)
I may decide to gunkote it at a later date, but that is pretty cheap, and might be paid for by selling the unused buttstock and choke.
For $212 I will end up with a gun that will complement the 28" barrel 870 I got. I will also have the pleasure of doing a fun project.
If I could have found an 870 riotgun with a folding stock for that price I would have bought it, but they cost more than a standard 28" express. Overall, I feel good about the whole project, but I will admit that now I'm thinking about buying a pair of barrels so that both of my 870s will have a short barrel option and I can give a set to each of my kids when they grow up.