This is a Palmer PB-11 pool cue and it was the top-of-the-line Palmer cue from the PB line. In fact the first sentence of the cue's description on the brochure is:
"Strictly for the player who wants nothing but the best and is willing to pay for it."
It retailed for $400 (the line ranged from $100 to $400, putting the PB-11 at the top of the price list).
If the cue is in good shape I would think you would be in the $300 to $600 range, but there is a lack of comparable sale data for this one so that would be a SWAG estimate.
There is one sale I see from April 2011 on eBay, where a Palmer PB-11 sold for $500 USD and it looked to be in good condition - having been fully restored by Proficient Billiards.
There was also one for sale on AZB in 2016 for $400.
These are one of the first lines Palmer had made overseas at the Adam Japan factories, and are considered to be of very high quality. They are considered a "full production" cue (vs. cues which were custom/hand-made).