The Elvis McDermott LGD-1 pool cue retailed for $295 in 1993-1994.
The 2005 Blue Book of Cues value was ~$385, in general the market for pool cue has been decimated since the 2008-09 financial crisis and has not fully recovered.
The custom red paint/stain on yours does not add any significant value. Perhaps an extra $20-$40 over the standard black option, at best.
These McDermott legends cues have no collector value, unless they are "new old stock" or "new in original packaging" e.g. never chalked. I do not believe yours qualifies for this but can't be sure based on the photos. I see it does have the original production sticker.
You have probably seen the eBay listings for the standard black version - most overpriced and never sold/aren't selling:
- Item 232434886386 - $450. Not selling at that price.
- Item 273068500860 - $399. "New old stock" never used. Zero bids so far.
There is also one on "letgo", has been online for 2 months, priced at $200 including the case, and isn't selling.
Bottom line is that there just isn't much demand for these. There is a reason they only lasted one season (vs. the 3 or 4-plus seasons of a more popular cue series).
The images are "transfers" - e.g. the designs are not "inlaid" but rather, are "transferred" on via a water decal, or other transfer process, and thus, don't command any collector value. Again, if yours is brand new old-stock e.g. never used, and we factor in the custom stain, then yes, you could command a bit more... perhaps $300 to $350 but even then, I feel that it would take a while to sell. The buyer at those prices would be an Elvis collector, not a cue collector, and I would guess you would be waiting for one of those to come along for a while.
Again, your mileage may vary. Take this for what it is worth - generic knowledge with no expectation of correctness or suitability for any purpose or situation. Always do your own research.