I have a Tatay guitar, bought in 1969 for $40. It also has a bit of repaired damage but still has a good sound and I enjoy playing it.
However, if I wanted to sell it (which I don't) I think I'd be lucky to get $50 for it.
The cost of repairs could be more than the worth of the guitar.
So unless there's a strong market for old used student guitars, I don't think you'll get very much for it.
Robyn