Insane!
I have two of these, neither cost me anywhere near that.
One is restored and working, made from two sets, a leatherette covered model that was junk but had a good face and knobs, and a wood model that had a good cabinet, chassis and tube.
The second is an original wood set like this in good condition but needing refinishing.
radios10467 has a following of well heeled buyers who want stuff in the best condition, this one seems great but it's missing the back.
I don't suppose it's coincidence that one showed up with a BIN of $39.95
http://cgi.ebay.com/Rare-Metal-Back-...item35b420de31
The buyer can make it an even $600 if he buys that too.
My set.