Normally, I would say it's a steal at $50, but to be honest, my eyes were immediately drawn to the wrinkled paint on the fork crown. I'm not an expert, but I would want to be able to explain why the paint failed like that. Has it been repaired? Any other cracked paint like that on the front triangle? Have it inspected by a frame builder if you can, because your plans for it are pretty serious -- not a coffee-gettin' bike.