I think your estimate would be considerably higher if you still owned it.
Now granted, this is an asking price and not a confirmed sale price, but this will give you some idea of what a game-used bat of someone like Pepitone would likely go for these days.
https://www.sportsmemorabilia.com/sp...-dna-gu-8.html
And in case you think it's the autograph giving this item its value, it isn't. Joe did paid signings for many years for a nominal price, so it's definitely the bat itself that is so highly collectible.