Mr. Pinball Price guide has a value of $1,275 for this game as of 2016. Granted, that generally includes a game that is in far better condition than what is pictured. While you can always restore/repair the wood, paint, playfield, and cabinet; the backglass will be a challenging endeavor to either find a replacement or have it restored (and honestly, that one looks roasted beyond any restoration, imho).

My bottom line, I think it's a bit high considering the state of the backglass and the broken/missing pop bumper assemblies, but perhaps the seller is negotiable. Who knows. I think it's a super cool game, and if you have the time, resources, and willpower, I think it's got decent bones for a restoration (assuming you can figure out a way to replace that backglass).

Good luck!

BLUF: If the game has FULLY working electro-mechanics and based on the below average cosmetic condition in comparison to age as shown, $450, but it is probably closer to $300 based on functionality. Rarity and collectibility aside, this is not an amazing example.

The top playfield indicates some already missing parts, what hides beneath?...
The cabinet is not too bad, but I cannot determine wood splitting or dryness due to conditions on the remaining game including the legs, but first observations do not look terrible.
Playfield looks quite good for the paint, lacquer, and age.
The backglass has not been reproduced for this 1948 title presently.
Reproduction will cost a minimum of $450-500 + shipping for additional illustration using another backglass example, as this backglass repair will be work intensive.

As a restoration expert, I would only purchase the game, if I really like Ali Baba and wood rails.
If you are still interested in buying, research local EM woodrail collectors in the area, and have them go with you for inspection.
You do not want to buy a game with mouse nests, dead animals, missing flipper or pop bumper assemblies, and chewed up wiring.
Assemblies would be difficult to replace, except from another donor game.

Neat game. About 10 years back I acquired a lone Ali Baba playfield and motor board. I traded it toward a game a friend had. He then listed the parts on Ebay and I was surprised to see them sell for $365. Back then though it seemed parts were scarce and some collectors made an effort to collect the Gottlieb fairy tale series games. Not sure if there are many modern collectors still trying to complete this subset?