Lloyd,
You saw my refinished first year 1912 20 gauge. Not sure I'd part with it for $450-too useful a gun for me to let it go for that price. But, that is not the same as saying it is worth $450 to anyone on the street.
I like to hunt (or, at least have a backup gun) with a first year model 1912, and I prefer less money in my users, as actual hunting beats them up a bit. I'm OK with a refinished model 12 for that, maybe some guys aren't, but, they will pay for that decision. I have nowhere near that into the gun, for what it is worth.
Older, money 12s are a hard sell, outside of a goose pit it seems, these days. That is a bit of folly, also, a 12 is the most versatile and easiest to feed.
If pumps are pass, word of it hasn't gotten to this part of the world-I see 'em all the time at my gun club, and the high school kids who are swarming on trap leagues these days use bunches of them. But, I suspect most kids are content with the cheapies that sell for less, new, with a second barrel or a second adult stock, for less than gramps wants for an old model 12.
I see a lot of model 500s at the club on the high school league nights. A lot of them are being driven by really cute girls, who wouldn't have dreamed of being at a gun club when I was that age.
I see some good changes.

Best,
Ted