I strongly second Curt A that (a) Pathé machines like the model 50 are not hot collectors' items but (b) given its family history you should do whatever you can to keep it. As to value, I think Curt is being a bit generous; a Pathé tabletop machine, although a Model 25, on eBay appears similar to your 50 and has been sitting there forever drawing no attention with a $150 buy it now option. Pathé open horn machines and the eccentric enclosed players of European design (like my "avatar" machine, a so-called Pathé Diffusor) tend to draw some interest, but the company's more "conventional" machines for the American market do not; regardless of model name or number, they all look more or less alike and all seem to have been middlin' machines aimed at the middlin' segment of the market.
Probably further depressing the value of yours is that it appears to have the wrong reproducer. If you look at the Model 25 online, you'll see that the reproducer (the round sound box that holds the needle) faces dead ahead at the end of the tonearm, whereas yours is on a tube that turns it 90 degrees. The former orientation is for so-called "vertical cut" discs, the latter for "lateral cut." Rather than go into detail here, please let me refer you to an article I wrote on the subject at
https://www.tnt-audio.com/vintage/mono-a-mono_e.html Pathé machines when yours was new were intended to play Pathé vertical cut records; Pathé reproducers were designed to rotate to play either type, but, while It's hard to tell for sure from your photo, yours looks more like an adapter of some sort, not an original Pathé reproducer. Look and see if the Pathé name appears on the inside, behind the clear diaphragm; if not, it's probably an aftermarket piece of some sort. If the Pathé name does appear, examine the reproducer to see whether and how you can reorient it to face forward.
When you have a look at your records, please do *not* play any Pathé discs, particularly if the record label refers to sapphire, with a steel needle. If you do, you will quickly ruin them; those were made to play with a special large-radius ball-shaped sapphire stylus. As pictured, your reproducer is in the wrong position, and quite possibly of the wrong type, to play such records, but if it can rotate to face the way the one on the Model 25 does, you can play them provided you buy a sapphire ball stylus. These turn up in the forum's "Yankee Trader" section and on eBay from time to time.
The exceptions to the "no steel needles for Pathé records" rule are two in number. First are those labeled "Pathé Actuelle" and possibly "needle cut," as these were late acoustic issues when Pathé had given up on the vertical cut system and were always intended for play with a reproducer in the position of yours fitted with a steel needle. Second are those issued after electric recording displaced the old acoustic (horn and diaphragm) method in 1925, but, like the Columbia in your photo, these are not really well suited to your machine, which was built for acoustic recordings. If the issue arises, please feel free to come back with some label photos, and forum members will be happy to offer guidance.
If you play steel needle records on this (or any other acoustic) machine, please make a point of changing the needle with each play. The sapphire ball stylus, by contrast, is relatively permanent and need not be changed.
I hope I'm not coming across as too much of a wet blanket--I just figure you asked for information, and you're entitled to a straight answer. With all the foregoing said, I again will stress that the real value of this machine is not money but sentiment; I surely wish I had one that had come down through my family. There's something really special about cranking up one of these old soldiers and knowing that you are following in the footsteps of your forebears. I should further add that just because Pathé machines of this sort aren't hotly sought doesn't mean they can't be a lot of fun. My own first machine was a Pathé upright, purchased when I was in high school, and while it's hardly the most valuable machine I own, I probably played and enjoyed it more than I have any of the more "substantial" players I've bought since. Finally, note that although the reproducer is probably "wrong" from a collector's standpoint, playing regular lateral 78s with it will be easy, and those records are both more readily found and, in the world of popular tunes (operatic fare is another matter), more musically satisfying than the uncommon Pathé vertical cut discs. Good luck, and happy listening!