Old Record Player

Value for these machines depends a lot on the model, if you could post up some images of the whole machine we'd be better able to help with a value.

The VV-80 was the lowest-price upright floor model introduced when Victor updated its product lineup in 1921. The 80 was a  small and basic phonograph, with a minimum of decoration. Trim was machined rather than hand-carved. All 80's had the semi-automatic brake and a two-spring motor. The VV-80 was available in  mahogany, oak or walnut, but the most popular choice was mahogany with a dark stain applied.  The earliest versions   had no record storage shelves; these were later added as standard equipment by the end of 1921. The VV-80 cabinet was updated in December 1922, with a much larger horn opening and a slightly larger cabinet . The VV-80 was discontinued from the Victor catalog in late 1925. 

The original 1921 selling price of the VV-80 was $100.00. An estimated total of 185,500 Victrola 80's were produced

I seen where one Sold for $389.00   condition is everything. 

Is in need of repairs   (restoration) ? how much is needed? Do you have any records? 

Based on the updated information, this piece is simply not worth restoring, you could replace it with a working model in good condition for far less than it would cost to fix this one.