Ok. So, the rest of the story. Armed with all the great information and advice from my friends here at UU, I went back this morning. I got a good look at the little uke and it was pretty much as described.
I offered $50 for it. He said he couldn't take less than $250, even with all its issues! He did come up with the bridge for it, but that was it. I pointed out the cost and time involved in getting it repaired and that once done it would still only be worth $350 - $400, at the very best. He was unmoved and wouldn't part with it for less than $250.
He wouldn't accept what I was willing to pay and I wasn't willing to pay what he wanted. So, I "took my hands off my wallet and stepped away from the instrument!" The story is over, for me at least.
Thanks so much for the input and advice from all of you! I really appreciate it. I might have been swayed to grab this little guy and get him fixed. Just hated to see him hanging there all trashed.
Thanks again,
Randy