This bike is one of the Schwinn Select series of Stingrays that were reissued starting in 1998 with the Orange Krate.
These were "bike shop" bikes, not Walmart or Target Schwinns. The price is fair for what appears to be an un-ridden example.
They also did Coppertone Stingrays, Apple Krates, and a Grey Ghost up through 2005/2006. Some of the frames are better detailed than others- the first few years got these nicely faked frames with the trademark smooth curves. They have a lot of filler pieces in there from what I have been told. I never stripped one down.
In 2007 there was a release at Walmart of the "Black Friday Krate", which were Chinese built Schwinns with (very) cheap components. They were also only $88 new out the door in a box... made in blue-purple, green, and black. Last year, the bike shops got a new line of fluorescent painted Lemon Peelers, Orange Krates, and Grey Ghosts. They seem cheap and not worth the $300-400 being asked.
Have fun!
--Rob
