I can't speak of the specific model, but you would want to cut with it first. Professional reel mower sharpening doesn't come cheap and neither do repairs to the reel, bearings and bed.

I'm assuming this is a model 1040. The old school rear throw reel type. Usually they came with Briggs 60000 2hp engines. Probably 30 to 40 years old. I have a PDF of the manual which dates to before MTD acquired Yardman.

That said, $200 is pretty stiff. For $200 to $300 you would be better served by a clean McLane 20" front throw. However, as previous poster indicated, sharpening is for professionals, and backlapping, while a home job, takes a lot of time and some skill. Owning a reel mower requires some love. I currently have a 20" Trimmer and two 25" Locke's. Have also owned McLane and Tru-Cut over the years.

If the machine runs well and cuts properly, check out the reel and bedknife. Both should be bright metal where the contact occurs, and should be even all the way across and on all 5 blades. I'd throw a modest offer at the owner. It's fairly old, yet not enough to be collectible.