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Looks to be a Colson tricycle although it's hard to pinpoint an exact year. Probably somewhere from mid-40s to early '50s. It isn't a 1950 model because the frame style that year was slightly different. It appears to be all original including the seat. Not sure what a fair value would be for it.
Did a little digging in another Colson booklet and feel you can rule out early '50s. Pretty sure it dates to sometime in the 40s. The frame style changed a few times over the years. Maybe someone who has more Colson reference material could spot what year(s) this frame style was used.
Maybe check ebay sold listings to see what some of these have sold for.
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