it think he probably had the bike for sale for a hundred bucks, hamfoh here proabably said "will you take 50 for just the frame? i'm going to build a fixed gear" and the seller said "no because the components on this aren't worth a dime but if you want to spend more i'll raid my spare parts bin for you"

i rode a raleigh conversion for a few years, it wasnt a bad bike at all, that being said it was 5 bones at a garage sale, raleigh has made and continues to make some really nice models, that looks more like a canadian made bike boom era thing, it's indestructible but heavy, and you may or may not have trouble replacing the bottom bracket because raleigh used a variety of threadings at the time, atleast one of which is proprietary.