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IMHO, no. K31 is nice, but 1903's and 03a3's have had a higher value, for longer.
That is a nice clean birch stock K31, but personally I wouldn't put it over $500-600 unless it's special , and your 1903 is $800+ all day unless a rewat receiver.

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The K31 is his, the '03 is not, so the trade would theoretically be in his favor.
 
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