Would you spend the money to get this restored?

It will not clean. A buyer will take that bag, dye it black and flip it. I have sold a few in poor shape and one particular buyer was interested in them for cheap so she could dye & flip.

If you are going to look for this style, make sure you ask if it has been dyed or "shoe-polished".
 
My hesitation buying on ebay is with smells. I bought 3 different vintage bags from 3 different sellers about 6 years ago on ebay. I didn't keep any of them - they really did smell bad (ciggies and musties)
 
My hesitation buying on ebay is with smells. I bought 3 different vintage bags from 3 different sellers about 6 years ago on ebay. I didn't keep any of them - they really did smell bad (ciggies and musties)

Smells don't bother me because there is always a way to air it out given enough time. But omgosh, stains like on the original bag in question on this thread? Yeah...wouldn't touch it w/ a coach-crafted 10 foot pole ;)