Converted, but appears to have been done to a reasonably high standard. Opening bid isn’t unreasonable.
Our first order of business would be to replace the pedals and introduce foot retention ASAP.
Raleigh International customized
Reynolds 531 Double Butted Tubes, Forks and Stays, Campagnolo ends
Lugs: Nervex Profesional Feature cut
Fork: Reynolds 531 with Forged Vagner Crown
60 cm/24.5”. 34 ¼” standover.
Overall quality: no rust or dents; decals and paint 9/10; chrome excellent
Rare Belgian Lux green anodized handlebars also mid70s
Velo Orange elk-hide hand-sown grips
Tufo tubular tires (rear about 50 miles; front new)
Campy front hub
Sachs duomatic Torpedo 2-speed rear hub