Aside from occasional and sporadic issues with the motherboard/display/trackpad etc., these machines actually seem to be on the more reliable side if they have not experienced major damage (e.g., drop/fall) and have been stored in hospitable conditions.
The original hard drives are the most likely components to have failed by now. Not usually, though - most of mine still have their original HDs and are working fine. Be warned (if you aren't already aware) that these machines require disassembly of almost the entire computer, including the display, top case, and optical drive, just to access the HDD.
The original batteries are also nearly guaranteed to be dead these days, as is expected. Some adventurous enthusiasts and collectors have opted to rebuild theirs with new cells but that's another 'project'.
There are several common cosmetic issues with these (none of which impact their functionality):
- Missing leaf and/or fruit (sometimes both) from the logo on the front / outer display housing. These were just glued in place so it's very common for them to fall out over the years. Someone out there was selling very nice reproduction replacements on Etsy a few years ago but I don't think they are available anymore.
- Hairline cracks radiating from the Apple logo beneath the display. This appears to be more of an issue with the earlier (Tangerine/Blueberry/Graphite-366) models' plastics for some reason.
- Hairline cracks in the handle. Impacts all the clamshell models. Also very common but they tend to hold together still; never seen one that's totally fallen apart. There is a magnesium rod inside the handle that gives it its strength.
- Cracks in the plastic between the keyboard and trackpad. These are caused by stress around a screw standoff/mounting point for the top case that resides under the keyboard just above the trackpad.
- Fading and/or discoloration (particularly in a polka-dot-like / spotty pattern) in the rubber around the machine. This tends to be especially the case for the Indigo and Graphite models, for some reason. Not sure what causes it.
- Yellowing of the keyboard. Quite common.
- Missing bezel on the optical drive door. These are held on with a single screw so they're easy to knock off accidentally.
Pretty much all clamshells have at least one of these issues today, if not several, even the nicest ones.
A more serious issue: vinegar syndrome. Usually caused by prolonged storage in hot/humid environments like garages, attics, etc. Have seen several iBook G3 Clamshells with this issue up for sale recently. Google it if you aren't already familiar; usually the display still works but it does impact the functionality (and smells awful too).
As for values ... tough to pin it down, and it depends on what you're looking for. These machines are among the most appealing vintage Macs of this era to collectors, due to their iconic design, bright colors, and portable form factor that doesn't require much space to store. I'd expect to pay at least $100 for a clean, working unit with no major damage (i.e., WITH a few of the issues listed above) and its charger. The only color that seems to always go for more $$ is Key Lime, just because of the rarity and appeal to collectors. Boxed units are worth quite a bit more, maybe $300-400 max for a super minty fresh one. The ones listed for $500+ on eBay are vastly overpriced IMO (I have all six colors/models, boxed, and paid less than that for every one of them). A boxed Key Lime, in particular, will be worth many hundreds if not close to a grand if it's clean, complete, and working. There are still deals to be had and sometimes nice units come up for under $100 but those are usually on sites other than the 'bay.
Of course, there will *always* be those who say "wElL, I gOt MiNe FoR $5 fRoM mY uNcLe'S fRiEnD's nEiGhBoR's dOg iN 2009" ... yeah, there will always be those cases of lucky finds, real steals, sellers that don't know what they have ... but, that is not consistent with where the general market seems to be at in 2024 (even setting aside eBayflation). It's amazing how much the prices have gone up in the last 4-5 years. But that's another discussion...
Other considerations include AirPort - unless coming from a fellow collector, these are unlikely to come with the card preinstalled. I opted to outfit all of mine with one, as I do occasionally connect them up with my original AirPort Base Station for some light browsing and whatnot. These machines also predate the days of USB booting so having the original install CDs can be helpful as well.
Best of luck in your search!