It's in need of more repairs than it's worth, but it would be fine for a schooling saddle, training, or something to learn in. It's in usable condition, just not all that pretty, lol. I did not know about all of the damage when I bought it. The seller was less than forthcoming... I bought it for $150 plus shipping.
The seat and flap leather is in very good condition, considering its age. There are no cracks in the seat like some older saddles can end up with. The suede looks good considering it's age too. Only the stitching issues really NEED to be fixed for the saddle to be usable.
Here are detailed and close-up photos or wear and damage:
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