I just came from an auction.where there was an Ithaca grade 4.it was a 20 ga. It didnt have ejectors,and the wood looked like a standard flield grade.no upgraded wood or checkering.it did have 26 inch barrells. It looked like a nice gun until I looked at the barrells .about 2/3 up I noticed the barrells had a bulge on both side.it looked that the barrells would have to be resleved.

So what does a sleve job run.I quessed about 1500 am I right.
what the total value of the gun in good condtion.with good barrells.about 3000 ?
I did some math and decided to bid u to 1000. I wasn't even close.the gun sold for 2350.Did I mess something.
or did the other bidders not look at the gun?
Was I right in my thinking.

You did well not to get the gun IMHO. Bad barrels, probably replaced wood, etc. Bad buy!. In the condition you describe, not worth even $1000.

It sounds more like the buyer overlooked something.. I agree with Walt..MDC