Hello:
The Pedro Arrizabalaga shotgun in question is a model 110
It was made in 12 and 20 ga. only and has ejectors and demiblock barrels.
Price in the 1983 catalog $81,120 pesetas. The most expensive shotgun cataloged in that year is the "Zozua" model at $486,318.
Your shotgun is the 3rd in price from the cheapest one.
My opinion is that Pedro Arrizabalaga made very good quality shotguns since the begining. Of course engraving fit and finish are much better in the expensive models, but all were solid, well built shotguns that last.
Best regards,
