I absolutley agree with that, in my country I would be comfortable paying about 50 pounds for that bike, maybe a little more if pushed but no more than 75 pounds. That nicely conditioned pump most likely fetches 10 pounds on its own provided it is functionally sound and 5 for the bottle cage.
As a second bike for a bit of a hack without having to worry about expensive components being stripped by theives etc you could do a lot worse. It has a good frame and decent enough wheels and is a comfortable enough ride. I've seen a lot of problems with their in house manufactured brakes however , but a change of cabling and pads might be a small but worthwhile investment (and a possible bartering tool to get 10-15 dollars off the price ?)
Nowt' wrong with a good bit of entry level Raleigh/Hercules.. and this one does indeed look clean and well looked after for its age.
Good luck with the bike if you get it and enjoy riding it.
Last edited by rpf; 01-12-11 at 03:07 AM.
Reason: forgot to comment on the pump