Without physically examining it, it would be very hard for me to tell you what it is worth. Also, it does ultimately depend on what someone would want to pay for it as far as determining the monetary value of it. Do you have any idea of the year of manufacture? Do you also have any of the things that one might find with this type of machine, such as a play list book to fill in for recordings and also a nylon needle cutting machine? Both steel and nylon needles in supply for it? If those kinds of things are included with the machine, then that can add significantly to the value of it.
There are also some images that you might like to click on in the following link for more information.
Columbia Grafonola Player - Google Image Search
Is this something that has been in your family for a long time?