Is this violin worth repairing?

You can find old violins at antique stores alllll the time, and its often hard to judge whether one is worth fixing up or not. Here's one I was tempted to pick up for $40, but I decided it wasn't worth it--I currently want to focus my energy on making an instruments rather than resurrecting one that's already been made--and not particularly well, at that. 

There are though, those ones that simply need basic setup: fresh strings and a new bridge, essentially--maybe some update fittings (tailpiece, chinrest, etc.) and a good polish. And with a few hours of attention, who knows, that $40 violin may resell for $300-$2,000 depending on its origins, sound, and quality. You may never know until you put it back together.