Based on your description & serial number it sounds like you're describing a Savage Model 1907 Auto Pistol. The Model 1907 was manufactured from about 1907-1926 in either .32 ACP or .380 ACP in multiple variations. Yours would be considered a Mid-Production or 'Common Production' version falling in the serial number range of 10981-184600. In excellent condition it might be worth about $300-$425. Hope this helps!
Steve Mace