Yeah, I'd pick that up any day of the week. Late 30s Colson indeed. May be repainted but it's hard to tell from one far-off picture. Some of the lines look a little shaky to be factory. Looks good but would definitely be worth more if it's that nice and original.
It's hard to give price figures on one picture but I'd say 375-450$ is a fair price for both parties. If original paint, on the higher end of that and above, if not, then the lower end. It's got a nice seat, desirable chainguard, nice headlight, Colson specific dropstand, W/W balloons. Though, if you can get it cheaper, then all the power to ya. I'd love it for 250$ :lol: