This is a very good qualityJapanese made bike. However, in my opinion, it is way overpriced. From stulted memory, you have a steel frame, I believe steel rims, basic 3 arm Sugino Maxy cotterless crankset, etc. In excellent condition, maybe $100 , plus or minus. For $150, you should be able to find a used 1980's era Japanese made road bike -i.e. Panasonic, Shogun, etc., with aluminum alloy rims and better parts. Just my two cents.
Fuji Monterey, Schwinn Traveler, Fuji Special Road Racer, Gitane Interclub, Sun EZ-1, Schwinn Frontier, Puch Cavalier, Vista Cavalier, Armstrong, Raleigh Sports, Schwinn Stingray
+1 It does seem a bit steep, but I'm not familiar with the market. I've got one of these and it rides very nicely. If it's in ready to ride condition I would expect to pay $100.00 to 120.00 at my local bike shop for that bike, but that's in a smaller city.