What model is Ithaca 16 gauge serial number 432285 and if it is in rough shape is it worth restoring?

You might get better information on the Antique Guns Ask Our Experts website, but you'll have to describe your gun a bit better. If I am reading the chart in the Standard Catalog right, you probably have a NID (New Ithaca Double) made in 1926, but there are about 10 different grades with prices ranging from $250 to "consult a qualified appraiser".