You have a McDermott M7-QR3 pool cue. It is sometimes referred to as the McDermott Lucky 7 M7QR3 cue.
It is from the McDermott M7QR series of pool cues which was launched in 1997 and retired in 2009.
The value of the McDermott M7-QR3 cue at retail was between $395 and $509. You can still get them new online for around $450 USD as of Feb 2017.
The clipping from the McDermott Cue website:
I know the color looks different in the photos, but it's the same cue. Probably just from a different year, etc.
The McDermott Description:
Highly figured Premium Ruby Red-stained Birdseye maple forearm and sleeve. Features:
- 3 floating recon ebony and ivory points with 18 inlays of dice in the forearm
- 18 recon ebony and ivory inlays of Lucky 7 die enhance the sleeve
- 10 German brass rings
- 45 total inlays
This cue features the exclusive McDermott Impact Control Ring, made from a Polymer Matrix Composite (developed by NASA), which maximizes feel.
The design is complemented by a Genuine 100% Irish Linen wrap of black with red specks.
UPDATE: I just found the M7QR-3 cue in a McDermott Catalog from the year 2000. Apparently they were available in "Charcoal" - (which I thought might be the color you have but doesn't look like it), and "Ruby Red" - the color in my pic.