Asking price, negotiable, was $325 - no takers. So what do you think it was really worth. The set was basically "as found" and untouched. Here is a photo I took:

http://www.Cerant.com/Emerson639/RaytheonPorthole-800.jpg

I was there, saw it, $125-135 max.

Is that a 12" set?
I would agree, $125-$135 as is.

Now if it was this 10" Raytheon Porthole even his asking price might not be out of line.

http://www.tvhistory.tv/1948-Raytheon-Belmont-10DX24-10in.JPG

I'm relatively new to TV collecting .... so why is that 10" more valuable?
Is it because of its overall size? Rarity? Because it has a 10" picture tube?

My valuation was somewhat tongue in cheek, but I'd bet if you put a nice 10DX24 on eBay you'd get that no problem.

Something about a stepped cabinet I guess.
I also think it is much more scarce than the M-110* sets.