Pretty bike! That is 'retail' price but not unreasonable. And presumably buying from a source like that they've fixed as well as cleaned it up. It would make a big difference to me if the rims are alloy or steel. The hubs are 'high flange,' probably the Normandy version, and that suggests the rims are alloy. It's possible but unlikely that the hubs are Campagnolo in which case the wheelset would be worth $200.