I do not own a Krag, but I have a bit of a hankering for one for reasons that I do not pretend to understand.  I just bought Michael Petrov's old .30-40 Krag dies so I guess the journey has officially begun.  I'm only interested in an early sporterized rifle as opposed to an original military configuration. 

I've been following them on auction sites to try to get a feel for what they are like and what they go for.  And to a degree unlike any other firearm type that I have been interested in, their prices are truly all over the map.  4 figures for hunks of unbelievable junk to rifles that seem quite sound for only a couple hundred dollars. 

So far, the only rifle that has really been at all attractive to me is this one (You need to Login to view media files and links)

It has a lot of features I am looking for, but it is not perfect either (seems to be a short barrel for instance, but I don't really know).  I have watched this rifle roll over many times on Gunbroker and, while the seller came down a small amount, it has still rolled over many times at this opening price. 

This makes me wonder what these rifles are worth.  I would be willing to pay only about 1/2 of what he is asking, but I don't know if I'm living a pipe dream or if that is realistic.   Can anyone provide any guidance? 

What would a Griffin & Howe sporter in about the same condition go for?  Perhaps that is the high end of things, but I need some yardsticks to know what I'm doing.

Thanks for any and all help in leading me almost blindly down this interesting but unknown path.

Brent,
It depends on what you want in a Krag turned into a hunting rifle.  In my view, that one went way beyond Bubba, missed the turn on the way to one of MP's classics and turned into folk art.  In my view, that makes it worth more than a garden variety Krag sporter.  The seller is correct in thinking that the Pacific rear sight is worth something in itself. 

Attached are 2 scans of some of Ellis Lenz' artwork from Muzzle Flashes.

The Neidner Shellhammer Krag was way off the charts.  I would love to luck into such a beast for a grand or so, but I know that is not happening. 

But let me show you something in comparison (remembering that I know nothing of what I'm talking about).  Here is a pretty nice Sedgeley that went for a grand, though it rolled over at least 8 times that I saw in Gunbroker and possibly many more before I found it. I was sorely tempted to buy it until some folks convinced me that I really needed a Krag instead.
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So, a rifle like this, but a Krag is sort of what I'm looking for.  99% of the "sporterized" Krags are nothing like this so I rule them out pretty fast. 

The "folk art" aspect of this Krag is pretty darn interesting to me.  In fact, I have thought about specifically collecting what I would call folk art rifles and have gone far as to have cave paintings (the original folk artists) engraved on one of my high walls.  No one else may like it but I do.  This Krag is not so much the decorative artist part, but rather the incredible skill of someone who must have been an amateur gun maker, but clearly had the skills of a pro, the eye of an artist for proportions, and a whole lot of time on his hands.  I think stocking from a raw log would have been faster than all the work he put into this rifle.  So it attracts me, but I am not sure it pulls me over the hump of $700.  I have considered offering the seller a lower figure but I don't honestly know that would be, or what I would be happy with.  So, I watch.  And maybe I'll get tired of watching and find something else, or maybe I'll take a shot at this one, it is close to what I am looking for. 

Here are some other "comparibles" that are simply ghastly
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Or lacking a sense of proportion and, therefor, uninteresting
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Did you look closely at the checkering on that piece of "folk art"?

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I'm afraid that's neither artistic nor well-executed. Compare to what we see from the masters on those others you've referenced.

Then take a glance at the way this "artist" rounded off the edges of the forestock flutes. Ouch!

I'll agree with the New Mexico rifle being way better than the OP's first choice.  The PG add-on is way out of balance as well as the checkering being childish in nature. I dislike that one a lot.

Michael chided me once for not staying the course in an auction for what turned out to be a Griffin&Howe rifle that ended up selling for $700. I bailed just shy of that amount because that was the extent of my "gun money account". Had I consulted MP earlier, I would have hocked the silverware and stayed on it 'til I got it. Just proves the good ones are still out there, as this was last year it happened.

Were it me, I would search out a cheap rifle with a decent action/barrel and a throwaway stock. Have a nice classic style sporter stock put on it, and good receiver sight and, Voilà!

Here is an example of what I think of as an exquisit folk-art rifle, albeit a lever action and not a singleshot or even a Krag

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If you look closely it is not perfectly executed but the proportions, the combinations of carvings, and all very well done nonetheless and I find it a beautiful rifle. 

Okay, so now ya'll think I'm crazy.

These are old pictures of a 'sporter', I once contemplated bidding on, at Gunbroker.  It needed some finishing and removal of that ventilated butt pad.  It was priced and sold for too much in my mind.  However, for me, there is something compelling about the basic lines.  (I fully realize others may hate it).

That looks to me like Ralphie's "Red Ryder Carbine Action" gun, complete with a "Compass in the stock and this thing which tells time!"  LOL

FWIW, I purchased my first Krag, a Bubba sporter, in 1984 for $175.  It had a Redfield 102K rear sight that I removed.  I added the Kraghaus sight rail and scout scope for Bench Rest Cast Bullet matches.  I love this gun... It's a joy to shoot!