The plain jane Model 94 carbine (1940-1964) goes for around $150 - 500 depending on condition. Average is around $250.
I think $389 is pretty high for one with no finish; maybe I am out of it, but IMO $150 would be more in line.
Like most guns made in quantity, only those in near perfect condition are collectible, so you will probably increase the value with a good refinish and reblue job.
Of course there are models like the pre-war Model 1894 (note the marking change) rifle, Trapper Carbine and Saddle Ring carbine that bring more.
Jim
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