Probably ($395 =about £250) it's not much to pay for a Gibson make sure you play it [unplugged and plugged in] for a long time though.

I doubt if it has much of a collectability value,who knows in 10 yrs?. Make a first offer that's ridiculously low if he takes it,say you'll think about it and run,not walk, out of the store.

I'd be wary of buying a repaired Gibson,but,that's just me.
Considering what you can get for $500 in the US (faded SGs,etc) it don't seem to be THAT much of a bargain.