On the very high side, yes - but then again, the color (of which I forgot the Raleigh terminology for) is not too common. Worthless if you prefer sizes over 21" though.
That said, the seller is speaking out of his behind on his website - enough for me to already dislike the numbskull. "A bike like this will sell for between $400 and $500 completely rebuilt." Phooey - why is he selling it for $250 then? And why was he asking $400 earlier?
Keep in mind the dented and twisted rear fender.
For that matter, get a load of his bearing repack job - done in the rain
-Kurt
P.S. to the seller: Don't forget to gloat about the price of that cotter pin press