marchers are a tough call. There was a similar Walberg and Auge on Reverb and the seller wanted $150...not sure if he got it and the people seeking w/a is a smaller group. The real money might be in the badge.
Looks 30's, maybe even 20's with that older style tension adjuster and claws. Looks like a well made 2-3 ply drum. A lot of these marchers only have cheap decals rather than high end badges. If they are fully complete and shell exterior is in decent orig condition maybe $150-$200. Very few up to that level. Just a pile of parts and badge could be $50-$100 depending on who is looking and when. That badge is cool though. You can buy some pretty nice vintage 50's to 70's marching drums (Slingerland, Ludwig, Rogers) for under $100-$150 with dazzling sparkle finishes that you could use with a Drum Corps. These older ones seem more like wall decorations in comparison. Buyers are scarce except for superb original examples. Value? Maybe $100-$150....but getting it is the hard part. You could wait a year or two.
Many are looking for those tension rods, claws, adjuster, wires, etc. to complete their projects. As usual, value of the sold parts is usually more than the complete item.