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Looks like a C.C.M., and i remember you posting before! I can only imagine the person buys and sells used bikes, otherwise they'd give up!
It's an Armstrong, which may be the only part of his info that is correct. It isn't "circa 1950's" as he stated. It's just a 60's english bike in decent condition. A basic internet search of the brand doesn't show them to be any better than other British bikes of the period. But he is convinced that it is quite valuable. I'd hate to see him get a hold of a prewar bike.
 
I just got home from picking up my CL find in Detroit. a 64/65 chrome Spaceliner in pretty good shape. its missing the tank and rack, but everything else is there. It had been hanging from the garage rafters since the early 70's and rust is minimal, think i got a good deal at $100!!
 
$200 seems high, but looks like a good bike.
Down in Brunswick, GA
http://savannah.craigslist.org/bik/4713741014.html
00J0J_3xwQV2Zh9Fl_600x450.jpg
 

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