if it's the ones like pictured below these are the gold crown matching racks and are built very well, worth about $200 - $300 in very good shape. Other than the overall condition, you have to look at the rubber nibs which are at the upper side of the rack and are held in place with set screws. These are what you push the cue shaft through to hold the cue in place in the rack.
These nibs can become brittle and break off over time and can be expensive to replace (even hard to source).. However, there is a get around where you can buy some cheap rubber or neoprene o-rings in the right thickness to match the nib diameters and cut them to the length also matching the nibs and, voila, you're good to go.
Also, the back panel (behind the cues) is masonite & unscrews for easy painting if you want to match your table color.
best,
brian kc