Unless an old recurve says 'Bear' on it, there's not much, or any, collector value. Maybe the Pearson Golden Soveriegns or Mercury's get a collector bump in the price tag, but nothing for Browning.
If I had an old Cobra in good condition, it'd takemore than $150 to get it away from me. But,I definitely wouldn't pay that much to get one. I'd say your dad needs to jump on the offer if he really wants to get rid of it.
Frankly, I'd sayyou need to take it away from him and start shooting it yourself.