The stocks should be "Coltwood" plastic with molded-in "medallions." While the OMS is about the best shooter of the three major Officers Model variations (my opinion not necessarily shared by others), the OMS does not seem to bring much in .38. I usually do not comment on value since it is so variable, but I will guess the value of such a gun missing its original stocks could be from $375 to $450, give or take.
The price seems quite reasonable. IF you buy it, you might keep your eyes open for the proper plastic stocks (grips). For info, the current Blue Book lists the value at 95% condition at about $500 (with the proper coltwood stocks).