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My 1972 Mirafone BBb was in much the same condition when I got it 16 years ago. I spent $1100. to acquire it, another $500. to put it in GPC, and another $500. for a nickel silver factory leadpipe [old brass one was red rotted where it attached to the bell.] It should be worth $4000. all day long, probably a little more, as the valves are all tight. It plays very nicely.

I haven't priced a new bell for a while but I would expect it would be in excess of $1,500. Along with several hundred bucks worth of dentwork... that pretty much puts the horn in the 'scrap' classification with most music stores and repair shops.

If I might pay no more than $600 for the horn, strip the lacquer, put a Chinese bell on it, do the dentwork, and sell it for around $2,500. Even with the Chinese bell, these horns are usually excellent players.

If you buy it.... count on spending $2,000 for an aftermarket bell and general play condition/dent removal.

The Chinese 186 'clone' bells work fine. I used to stock them but can't seem to order them any more. Seems like the dealers of such horns would rather sell new horns than parts.

don't see why the bell couldn't rolled and patched well under $200...it will be always severely scarred and ugly though, can't fix that, and possible too thin and brittle to be repaired from any further accidents.
If the leadpipe is still good, or at least good enough to only need some cables pulled thru it, than go for it....and the rotors should spin LIKE BUTTER, that's the big perk of a miraphone.

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This was what my bell looked like when I got it. It took some skill rolling it out and it still is not beautiful, but it plays very well with the work. Worth the time and work involved IMHO.