Value depends so much on location. Where I live, on the West coast of the USA near Seattle, $225 would be an unreasonable price. The seller might be lucky to get $125, in fact, since TV collectors are few and far between and the cost of shipping would exceed the TV's value. Thus, the major market for this kind of set is local people who want a (probably non-working) decoration.
A 1950 TV is kind of on the cusp between the more desirable 1940s sets and the generally almost-worthless 1950s B/W consoles. On the plus side, this one is attractive, with the gold bezel & pencil box, and big knobs. It's also well engineered, according to bandersen, and the screen's big enough that you could actually enjoy watching it.
How plentiful are old TVs in Nova Scotia? How many other TVs have you found within driving distance? How did their condition compare to this one? How were they priced?
If you only have room for one console in your house, is this the one you'd like to live with indefinitely, even if something more exciting crawls out of the woodwork next week?
Those are questions that only you can answer.
If it were for sale here, I wouldn't buy it, period, because my place is crammed and there's nothing miraculous about this set that would justify substituting it for something I already own. If it appeared on the local craiglist, I'd expect it to sell in the $50 - $100 range, if at all.
Phil Nelson
Phil's Old Radios
http://antiqueradio.org/index.html
P.S. If you own a CRT tester, bring it along when you go to look at the TV. If the CRT looks weak, give them the rap about how a new one might cost $100 or more, if you could even find one.