As infered by the model name, the Club was intended as an economical racing bicyle, intended primarily for club races. The VaLite tubing is a step above hi-tensile but below chromium-molybdenum. Components are good, but nothing special. Overall, this a solid, upper entry level model.
The pics aren't good enough to make an accurate assessment of the condition but the fork has obviously been replaced. The steerer is too long and the owner has used several spacers under the headset locknut to make up for it. This may have been an attempt to get a higher handlebar postion but it may also have been to replace a bent fork as a rersult of a crash. Carefully inspect the area immediately behind the head tube lugs for wrinkles in the tubes and cracks in the paint, which are definite signs of a crash and a bent frame. In addition to the fork, the handlebar tape has been replaced and aero brake levers have been installed.
I don't know your market area well but this would be on the extreme upper end of a fair price in my region, provided there is no evidence of a crash and it fits well.
Edit: Make sure you give this one a very close inspection ans a thorough test ride. Even if there is no visible evidence of a crash, the bicycle may pull slightly to one side when ridden with very light pressure on the bars. This can be corrected by a well equipped bicycle shop but will warrant a lower price.
Last edited by T-Mar; 12-20-10 at 06:51 AM.