If I lived closer, I would have bought it already. No question about the asking price.
You can walk into Walmart and pay $300 for a machine that is going to give you fits every day of its short life and end up in a landfill before you know it.
Or you can pay $260 for a classic machine that in all likelihood will need only cursory preventive maintenance and oiling to keep it sewing, trouble-free, for many, many years?
Take some fabric, thread and needles with you and see what the machine does. Inspect the electric systems, take a look at the included accessories and if you like it, buy it.
He's asking a very reasonable price for a machine in this beautiful a condition and recently serviced.