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Well, very few collectors are looking for an NR Davis hammerless, so unless it is in excellent condition (and you wouldn't be thinking of refinishing it if it was in excellent condition) it won't be worth more than a couple hundred dollars. As a usable hunting shotgun, any good double should be worth about that much, too. Of course, for just a few dollars more you can buy a new shotgun with a manufacturer's guarantee. Parts will be a problem if you ever need repairs since these guns haven't been made for 90 years.

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Q: Will it lower the value of a 12 gauge NR Davis and Sons hammerless side-by-side if it is restored for hunting?
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