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help buying a used Danelectro

I'm checking out a used Danelectro from a guy (because I always thought they were cool...whatever)

I'm not real experienced in buying quirky instruments like this. Are there things in particular I should be on the lookout for. I know very little about Danelectro. Obviously I'll play it and decide if I like the tone, but are there characteristics to watch out for?

The guy did say that the "tape" around the edge (as he called it) has been removed. I'll see what he means tomorrow.

Any advice? Suggestions on a fair price (assuming it plays well?)
danelectro.jpg
 
What kind of price should I expect to offer? He's starting at $200, but I'm sure he would bring that down.

I dotn think thats a bad price, i would offer 140$. If he says no tell him you can do 160$ and pull out 160$ in 20$ bills. If he still says no then say you would have paid more but he pulled off the binding, which is not a big deal but should lower the price.
 
Anyone interested in the history of Danelectro might want to check out the tribute I wrote to my father, Danelectro founder Nathan I. Daniel, at Invalid Link Removed. It has lots of information about this innovative guy available nowhere else on the Web.