Hi Jeff, Here are some things that I look for on the larger sized Triumph trap. I can't tell if the chain is complete. On the second photo down you can see the jaw locks. These are the little tabs that come off the jaws. Check the other side of the jaws and see if the locks are still there. Sometimes people will try and remove the jaws and bend these jaw locks which will likely break them off. Spring strength is also important and how strong the springs are. I never set the trap or compress the springs completely down because these springs are very old and sometimes they can break which would be a shame and greatly diminish the value of the trap. I would also clean the trap. There are a lot of different ideas on how to clean a trap. I've used several different ways of cleaning traps and if you asked ten different collectors about cleaning traps there will be seven or eight different ideas. If it was my trap I would put it in a bucket of water let it soak for a while and take some light steel wool and go over it lightly to take of the surface rust. Be very careful not to take off the patina which is the dark color that will be under the rust. Most collectors like patina and when it's gone it's difficult to replace. I would put the trap in clean water to get the nasty old rust and dirt off the trap. Then I would let the trap dry maybe even using a paper towel or a clean rag to help dry the trap. Some folks then put a light penetrating oil on the trap. Some will put light wax on the trap like furniture polish or Johnson paste wax. The light oil or wax will keep rust from coming back. It looks like your trap may clean up and you might be surprised how much difference a little light cleaning can make towards the value of your trap. Greg