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What condition is the gun in? A 98% gun is worth considerably more than a gun in 50% condition. A photo of the gun would help but lacking that a detailed description of the gun's condition will suffice.

I once watched a 16 gage 11-48 for over a year on Gunbroker because the starting bid + shipping was about double what the gun was worth. It never received a bid in all that time.

Some of these older shotguns are not as easy to unload as you may think even when you advertise on sites like Gunbroker. The potential pool of buyers for 28 gage 11-48s just isn't that large.
 

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while this is neither here now there....the meanest shotgun I ever shot was a 28 gauge Remington 1148 with 7/8 oz hunting loads. It broke the targets just fine, but it kicked like mean mule! I was so happy to hand that thing back to the owner!!
 

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I don't think you classify an 11-48 as an antique - yet. I has to be priced as to the utility of the gun. So I would think given it is fixed choke, parts will be tough to get if something breaks, and not knowing the condition - Go to Barnes and Noble book store and get the blue book out. I would not pay more than $300 as far as what it would mean to me.
 
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