According to post #39 link, Chinese Red was a color from the years 1937, 1942, 1984, and 1987. S'ok ..I'll put it on your tab .. ;)
Yes, as per post #40 - I believe the teapot is the Los Angeles pattern in Chinese Red & the only one I can find on ebay is the one listed as a Buy-It-Now on stayathomemom's #40 post. I would assume $349 is close to book value - & also would assume it's fairly collectible by the price. I know people that have Hall Value Books, but I don't have one myself - I just use ebay to determine the values of most things.
The counter on the teapot auction shows over 300 people have viewed it, so that tells me it's pretty desireable.