Proctor bicycles, later to become Proctor-Townsend, were built in Edmonton, Alberta Canada. They are very nice hand built bicycles that, sadly, never captured wide spread interest or respect. That said, the workmanship on the frame sets is very good.
I have owned one
Proctor and a couple of
Proctor-Townsend bicycles.
They did not disappoint in looks or performance. But they do not fetch much money when on the sales block. The one pictured by the OP is probably not worth the asking price of $500.00 in today's soft market. A couple of years ago, absolutely, but not now. Were I buying the bicycle, to use - not flip, I would likely pay as much as $400.00 but no more. Keep in mind that I am a collector of Canadian made road bicycles and still have a couple tucked away.