Yep looks really serious in that photo- may have to edit it out for ebay! paint chip doesn't show much when the headset is on. The scars on the chainstay go into the metal a bit-Previous owner filled em with some type of filler-no need to have done that really they're not that bad at all.
Is £200 cheap? Thought that would be top whack- Never seen a Rascal with this paintjob mind maybe some rarity value?
Will stick it on ebay this weekend if no interest before then.