I'm no expert but I would think $400 would be on the low end. That snare is probably worth a couple hundred by itself. I would think more like $600 or $700. Like I said, I'm not well versed in pricing old Ludwigs but from my experience they go for pretty decent money.

I think we're close on value. I wasn't including the snare with the set....just the 22" Bass, 16" floor tom. & 12"/13" toms.

I'm sure some more knowledgeable Ludwig guys will help out but I did a search for drums like yours and some people are asking $200 to $350 just for one tom. Although, they are in pristine condition for that price. You may be more at $600 or more without the snare