That price is not way out of line if the Krag is still in military configuration. We would need more info and pictures to give a better answer. If it is sporterized in any significant way, the value probably drops to $350-400.

More info would help.

It's great, though, to be checking here before buying. Too many people buy first, without any knowledge of Krags, and come here asking questions. Then we frequently give them the "bad" news.

Good luck and welcome!