I doubt IJ ever made a revolver in .38 Short Colt; AFAIK, the .38's were all made in .38 S&W. The .38 Short Colt will fire in them, but it is loose in the chamber and may bulge and be hard to extract. The .32 caliber IJ's were made for the .32 S&W.
I believe the grips are factory. For those with Goforth's book, see Page 85 for similar examples.
I can't judge condition from the pictures, but $100-150 would be about average, retail. A problem in selling is that many gun shops won't take them, even in trade because the guns are long discontinued and can't be warranted on a further sale.
Jim