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That’s probably because the radio is a fairly new listing (there’s also a ‘Buy It Now of £500), but if you keep your eye on it, you could bag a bargain. According to the write-up, the 1961 Rams design is in very good condition, offering LW and MW reception, plus controls for volume, treble and bass.
Even if you never play it, the radio would look great on a midcentury sideboard and it can only go up in value. Especially if you get it for that penny plus postage from Germany.