#1
I found a lefty Framus Deluxe 60 for $200. Owner says it "needs" work, but I'm not sure what kinda work he means quite yet. Does anyone know the worth of one of these guitars? Is that a good price? I don't know anything about the brand but I like vintage gear and this guy is saying the guitar is circa 1960's.
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#2
I'd start from the assumption it's a hunk of junk. European rock bands in the 60's played American guitars because the European ones from that time period were not great instruments.
GMW hot-rod telecaster
GMW soloist
PRS Custom 24
The Illegal Les Paul
CAE 3+SE
Soldano SM-100R
Splawn 4x12

“Life is on the wire…the rest is just waiting” - Papa Wallenda
Substitute the stage for the wire, and he's got it.
#3
Don't know what needs to be done but for (let's say $300) to spend on repairs, Classic '57 pickup, frets etc. it's will probably still be better than the other hollow bodies for $500. I might be right I might be wrong. My opinion is to Get more opinions.