This frame has been lurking around the 'bay for quite some time, and I'm suspicious: here's why -
1. Raleigh Royal (tourer) first introduced in 1987 (identified by the engraved seatstay caps).
2. There has been an attempt to make it look like a much older frame, Reynolds decals are wrong for the year of frame, they're much earlier, and the forks are round forks that I date 1945-1955.
3. The Raleigh top tube cable guides are cruder than those that would have been on the frame when new.
Why are these things problems...well the seller is using a name from the frame builder's hall of fame, and that is Bill Hurlow(and Mal Rees). The seller implies that Bill Hurlow rebuilt this frame: I don't see it, there is nothing on this frameset that isn't Raleigh apart from what I've mentioned above.
And why would BH mess about with a rather average Raleigh frame anyway? I would be very surprised. Given the price being asked for a frame not worth more than half that asking price I'd like to see the provenance online. Also, you could buy a genuine BH frame for no more than that asking price!
Bill Hurlow also passed away a while ago, Mal Rees even longer ago (I'm deliberately not revealing when for obvious reasons).http://cgi.ebay.co.uk/ws/eBayISAPI.dll? ... 1004974831
Co-founder of a V-CC section, member South Eastern Road Club and owner of - 2005 Bianchi Reparto Corse (modern), 1985 Raleigh SBDU Pro Super, 1984 Raleigh LU Corsa, 1980 Allin Stan Butler Special, 1978 Ron Cooper, 1975 Bill Philbrook tourer, 2 x very early Roberts (mid/late 1960s), 1966 Raleigh Superbe Roadster, 1964 Allin Stan Butler Special Belgique, 1951 Hobbs of Barbican S/C, 1950 Hobbs of Barbican S/C, 1947 Hetchins Super Special, 1908 Centaur Featherweight. 1988 Specialized Stumpjumper.