I agree that value on those Flobert pistols is generally low, but some are beautifully carved and engraved, even gold or silver inlaid, and those will bring into four figures on the basis of the art work, not the value of the basic gun. Of course, those are also very well made guns, by top artisans of the day.
It looks like that pistol might have been originally made for a rimfire, then altered to center fire by dovetailing a new firing pin into the hammer.
For those not familiar with the system, the original Flobert guns had no breechblock or lock at all; the hammer was made to also act as both the firing pin and the breech block. They depended on the combination of a heavy hammer, powerful spring, and low power cartridge to hold the breech shut against pressure. With a higher power cartridge, the hammer can be forced back and the cartridge case ejected to the rear at high speed, a dangerous condition. This has happened where the gun was originally intended for .22 BB Caps, but someone fired a modern .22 LR in it.
Jim