The Mossberg 5500 MKII is very similar if not the same shotgun as the newer 9200 series of shotgun today, don't quote me on that though. In 1987 the 5500 MKII sold for $250 and if yours in in very good to mint, then it is a fair price. They came with two barrels from the factory. One was a 2 3/4ths chambering for non magnum shells only and the other a 3 inch Magnum chambering which will handle 2 3/4ths shells.
They were known to have cycling problems and needed some polishing of internal parts and the action itself as well as the chambers. The 2 3/4 barrel will shoot lower powered skeet/trap loads and the 3 inch is meant for heavy field loads. If you only have the 3 inch barrel and not the 2 3/4ths it will not be a very good fun gun for games.
Hope this helps in some fashion.
