Looks like a bog-standard student flute--probably a stencil. Perhaps close inspection of the keywork would reveal the manufacturer. I highly doubt it is worth much, I'd guess around $100 in decent playing condition. Anyone else?
Having purchased new Gemeinhardt 3SHB flutes twice for ~$200 off eBay, it might not even be worth that much. Do I see plateau keys too? If so definately a student instrument. But I'm not a expert like kymarto is.
Always check the eBay for your pricing info. Here ya go. $10. I had actually checked before kymarto and Gandalfe posted, but I'm not much of a flute "guy," so I wanted confirmation.
As Gandalfe mentions, there are better quality flutes that sell for a rather low price on eBay. While I think the eBay'er in the ad I link to, above, got a deal, I don't think he'd ever get even close to that $699 price.
Brook Mays is a defunct musical instrument marketing company. They've been gone since the early 2000s, so anything made for them has some age on it as it is.
I once found a flute head joint at Brook Mays that was pure heaven to play. Normally, I have to struggle to get a barely passable tone out of a flute. But, one day, as I was buying some discounted merchandise from them (back when they were on their last legs), I opened up a drawer in the horn room and there were three or four head joints therein.
I tried them all, with the usual predictable result (i.e., I sucked), until I got the last one in the bottom of the drawer. From the looks of the box, it had been there for many, many years. However, when I pulled it out and brought it to my lips (I didn't have my flute with me) and barely breathed across the lip plate, the damn'd thing came alive in my hands and sounded the purest, most beautiful tone that I had ever heard in many years of struggling to play the flute.
It was solid silver, so that may have been the cause for the ease of tone production (although I cannot for the life of me understand why). Regardless of the reason, it was a thing of beauty. And, I could reproduce the tone each time that I brought it up to my mouth.
Alas, like everything else in their retail universe, it was severely overpriced. So I passed it by.
Since that day, I have never had an easy time of it on the flute. Probably, the thought of what I could have sounded like biases me against The Silver Stick Of Hell.