I'd avoid the compass thing. That gets the same cross looks on a classic rifle such as this as a white line spacer butt plate and a zebra wood forend tip.
I'd have a splice of wood added to cover it and match the grain.
Someone like Mark Larson can make it disappear into the original wood for you
http://www.marklarsongunart.com/

I don't know what the length of pull is on the rifle, but it looks quite long. If it doesn't really need all that, perhaps a standard M/S steel butt plate could be refitted to the wood w/little loss of LOP from what the original was.

If the stock would be too short w/an original plate on the existing wood and the repaired hole still bothering you, a decent stock guy can do a butt stock splice to the rifle.
A new piece of wood is added to the existing stock. The splice usually made at the rear border of the pistol grip checkering pattern. It's done quite often to save older guns that have had alterations or damage to the butt stocks but the forward portion including the inletting is fine.

Matching up a piece of wood to suit, the new butt portion is shaped to the same dimentions as the original. Only now there's no hole in the right side and the LOP can be adjusted to what you want and the steel M/S added at the same time.
Just some thoughts.

Much too nice of a rifle to let go for a pittance. The buyer may have a butt stock splice job in mind for it. Saves a lot of money and time over a complete re-stock as you can imagine.