Would it be a folly to pay $1500 for this Follis?

Update, 8 July 2015:

Apparently, it would have been a folly to pay that amount for this Follis, because it’s now available at a starting bid of $700.


Original post from 25 June 2015:

Could be gas pipe or Reynolds 531 beneath that tired paint; seller doesn’t say.


Item specifics
Wheel Size: 650b
Frame Size: 56cm Country of Manufacture: France

Vintage french bike Follis from Lyon Oullins.
From barn, in good condition but have to be checked.
saddle Ideal
moyeux maxi
derailleurs cyclo


Postscript: the bike sold for $1,200 (via Buy It Now).


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