Well anything naval is desirable. Of all the interwar rifles RM is about as sought after as it gets, but like anything condition is the key element to any value. I do not know the rifle strength of the RM, but as it was only a 15k man force by treaty; the small arms it held had to be rather meager. Considering such a small force it is a little surprising the numbers of rifles known (recorded), and this is probably due to a modest expansion over time, as it is doubtful the RM was under much scrutiny after 1927, if any at all, as no reference I know of, on the interwar disarmament efforts, discuss the RM to any appreciable degree. Further the small arms one can attribute to them are often rather diverse in markings and quality of work.
Anyway, the stock sounds like a significant problem, though in the interwar period the Army depots do seem to have lightly sanded the stocks during reworks and upgrade, the original markings are generally still clear and you can make them out in most cases. As any collector will tell you, the stock is the most important single factor in a rifles value, the worse it is sanded or cleaned the more it is detrimental to value.
I would think $500 might be a good point to try and work a deal, just because of the 90% otherwise condition. If you are 100% on the components being authentic, the bolt especially, you might go higher just due to the rarity of the rifle, but to many collectors the stock will make this rifle largely undesirable.
If you get it, I would like to see it!
