The rifles value depends on many things..bore wear, muzzle wear, throat erosion, stock condition, does it have any special paperwork as to previous ownership, are all the numbers matching, and the list goes on from there. Market value on a post WW1 1903 Springfield will start at about $200.00 and go up from there if everything is in its favor. Rifles manufactured prior to or during WW1 are of greater quality and value and should bring $400 and up depending on condition and care during the past 90+ years. Who appraised it at the figure you mentioned?