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I wouldn't c all it cheap. It's not a particularly well loved watch with a badly patinated dial, not the best of movements, poor case condition, missing the casing clamps and screws......... etc.
That's rough man, I'd not be buying that at all. Crummy dial, less desirable movement, unserviced... pass
If that were an automatic, it would be a watch somebody tried to buy for under $150 to snag the movement for their SM300 NOS project. However, it's a manual wind and I don't think anyone here would pay more than $100 for it - and that's only if they needed parts.