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This is a "loaded" question and the answer is - It Depends. There are several issues that need to be considered. What year was it manufactured? Original 1892 Winchesters were produced into 1936. What condition is the barrel in? A shooting rifle should have a good clean bore with littl to no pitting. This will enhance the value. Fired or not? Unfired makes it worth much more to the collector. Barrel length - some lengths are considered more desirable than others. Standard would have been 20" 24" 26". Fit and finish - how much of the original bluing remains, has it been touched up and the finish of the stock are at issue. The fit of the parts should be correct and not refitted in any way. Are there any obvious scratches? Any refinishing tends to detract from the original collector value unless done by the factory. Caliber - some calibers are more sought after. Calibers like 218 Bee are harder to find than 32-20, 38-40 or 44-40. Style of the 1892 in question - the musket version is quite rare, while the rifle version is most common and the carbine model fits in there somewhere. For instance, I have a 1892 in 44-40 with a 20" barrel and original walnut stock. Approximately 75% of the original blue remains but the stock and forearm have been refinished. The magazine tube has seen a couple of dents that have been removed. The value of this rifle in good condition is about $650-1200 based on market value. The same gun with a 13 1/2" barrel would command a couple of thousand dollars more with the appropriate paperwork from ATF and Winchester certifying it. The above rifle in 218 Bee and a 24", unfired, might command more than $5000. One problem in assessing the value of Winchester lever guns is that Winchester offered some many options that you could get what amounted to a custom rifle from the factory back then. In the end it is worth what the market will bear. I highly recommend that you get yourself a Gun Blue Book, availabel at any fine bookstore, and thumb through it. It will ultimately be cheaper than an appraisal from a dealer.

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Q: What is the value of a Winchester model 1892?
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