That cue certainly looks like a Mottey....probably made sometime since 2003ish. They sometimes used that PM logo on cues that had woods in the forearm where a signature wouldn't show up well, or it was requested.
Value? I'm guessing no ivory options....that would put a played cue with one shaft like this in the $600-850 price range.
Sounds like it could be a very good fake then. Jim or Paul may could tell with detailed pics of the cue, including the joint and butt cap. Pics looked good, as I recall.