The little violin is ready for pick up. I find it particularly poignant when the restoration is of a child's instrument, when the child was born generations ago. I know that as my parents aged and I became older with them, it was easier for me to see the little girl and boy in their personas. This was an unthinkable proposition when I was small, that they should ever have been as insignificant and as playful as me...
Most young players start their learning on economical, imported instruments that are brand-spanking new. The current bunch of children have benefitted from the explosion of manufacturing in China as much as their parents and I have seen a huge improvement in the quality of beginner instruments that have become affordable for hesitant parents, unsure of their child's potential for commitment.
An instrument that I can sell for $300-$400 now is better in quality than many instruments that sold for $1500 ten or fifteen years ago.
Even this old one was 'manufactured' in a factory, albeit without machinery, but still turned out in large numbers by skilful, but unimaginative and poorly paid workers. But it has its own story, and that story is connected to the life of the owner, and you can't put a price on that.