I worked at a sheriff's office. It amazed me how profoundly stupid people were when it came to inherited or old guns. They watch nightly news and like "Farenheit 451" they just think they can't have those awful things so they when find it in dead Uncle Ralphs drawer they freak. They box it up and wrap it in towels and walk into the sheriff's office with it at arms length, like it is gonna blow up or something. Usually they start saying "it isn't mine and I want nothing to do with it". In the age of Google they are pathetically dumb. I used to spend so much time trying to get them to realize they could make money, but they drank the Kool-aid.
After noble attempts (and yes sometimes successful ones that I wish i were less honest about) lets just say I know someone who got a SAA, a Civil War Spencer, a Rem 513T, a 70 series Gold cup, several Colt police positives, a Savage tip-up pistol, numerous snubbies, and never paid over $300. Most were under $100 and several under $10, and the 513T went for $1. Before anyone says "rip off" I always told them they should research it and sell it, but these people we adamant that they wanted it scrapped. So they were talked into not scrapping and legally selling to reputable persons for what they offered. I always tried to do them right, despite themselves, but some can't be helped. On the other hand I had a Captain who preyed on little old widows who came in. He cleaned them out. I hated him. I also stood by when several Nazi Lugers, a SAA 45 Colt, a nice trapdoor, numerous pre-64 Winchesetrs, some Brownings got chopped. We did try to salvage parts, but had to be discreet. None had sights, stocks, parts...all were receivers by the time they went to the chopper. Sad. No idea where the parts went.
You did good talking him into giving it to you. It is a fine rifle. Learn from it. It has stories to tell