I have a couple of questions. First the sides don't look lacquered to me, are you sure they are?
More importantly though, from what I understand from Mr. Yamash.ita and OLD_SCHOOL, there could be a rather wide range of quality and suitability for razors. Cheapish stones are good, but since all people who sell japanese stones seem to put quite a bit of a stress that they have to be tested and verified, I am hesitant to spend $100+ on a stone which can turn out to be mediocre.
In any case you mention that it needs flattening - aren't they flattened enough at the mine before they get stamped? The reports from people who bought stamped stones from OLD_SCHOOL and Mr. Yamash.ita are that even if not absolutely flat their stamped stones were perfectly good for use.
I am thinking that the only two people who have seen the stone in person are the previous owner and you. You don't seem to have the expertise to commit to a valuation, and we don't know anything about the previous owner and his valuation apart that he was willing to sell it to you for $50... Some more information may be helpful, as 'potentially very valuable' won't cut it for me.
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