That would be the .32 Safety, Second Model, made from 1902 to 1909, total of 78,500. Serial range was from 91418 to 170000, so your 118720 would fall in the earlier dates, probably about 1904.
There is no way anyone can determine the value of that gun without good quality pictures. They are not high priced because so many were made, but they range from near nothing for a rusted junker to $600 or so for one in like new condition with more if it is in the original box with the papers. One with a 2" barrel will bring even more.