It is expensive for a Reynolds 501 eighties Peugeot, $200-250 would be a nice price. But consider usually those will come with less desirable components than the ones in there. Upgrading components will quickly eat up the difference between $350 and a better priced bike. Cosmetics are important too. For me, if the bike was perfect in fit and components, ready to ride, as clean as the pics show . . . I might go for it.