I don't see many 1911 parts on the car. The engine 121817 is a mid - 1912 serial number. The lamps are all reproduction for a 1910. Front wheel hubs are the roller bearing style for 1918 and later. Reproduction 1910 radiator is incorrect. Later model rear axle.
It might be a fun car, but any buyer needs to know it is not what the description indicates.
So what is the value of an original 1911 in this condition and what is the value of this car?
It is very hard to say . I saw a original wood body only sale for 15,000.00 . There was a very complete old restoration sold on ebay in the low 20es resently . Most of the well restored documented Torpedos run between 60,000.00 and 35,000.00 that I have seen . This cars value is in the ( if it is a real ) original body and the fact it is ready to drive and enjoy . The 1911's had so many changes all most one a mouth That you need to be very diligent in researching what is correct for the mouth your car was built . There are a lot of people out there that all that does not mater too . They like it because it appeals to them . One than for sure it cost a lot of money to build this car . I am building a April 15 1911 Torpedo , I have a original documented block and have collected most of the correct parts to start the build and I have 20,000.00 in it now. All cars are worth what one is willing to pay .
I would say if the car had all 1911 parts it would be worth $40 - ish thousand and up.
As it is, a fun car that looks 1911 - ish from 20 feet, maybe $15K - $18K would be my guess.
Like Perry says you could make it correct, you would need to acquire a real 1911 engine and then make the rest of the parts era correct to match the casting date of the engine.