I do not know this particular model, but Gazelle is (was ?) a bike manufacturing company in the Netherlands. They produced bikes under their own name and also manufactured bikes for Raleigh of England during the early 1970's. As I sold Raleighs during that time period, from shipment to shipment one model bike would be made in England and the other made in the Netherlands by Gazelle. Anyway, if it has Exage components it must be from the late 80's early 90's. No idea of the value, but Reynolds 531 and Shimano for $50 sounds like a great deal to me !