If it is vintage and isn't rusted badly, it will shave and shave well after being honed by someone who is competent. You can buy tons of razors for around $15 to $20 on Ebay that are quite good shavers. My point isn't to advise you to buy off Ebay at first, for that can be disappointing at first. But, to point you toward a price range you might expect to pay.

But, consider this. If someone buys a $20 razor off Ebay, cleans it and polishes it nicely, and hones and mails that is a lot of value added! $20 for honing. Say, $10 to $15 for making it look really good, administrative and postal costs and the like and another $5 or $10 to make it worthwhile time wise.

Check out the Buy/Sell/Trade here. And, I think the general entry level razor selling for $40 to $60 is a fair price considering what you get with the price.

But, $174.99... might be nice. But, it isn't necessary at the beginning.