Seems to be a decent price, maybe slightly more than it's worth, although it has potential.

You will need to get replacement scales, I'd go for old stock Dovo scales. If the dark spot on the toe on the mark side is pitting, it might take quite a bit to sand it out. Transparent nail polish on the etching and you're good to go. It also seems to have a slight frown and some chipping/pitting on the heel.

But with some TLC & elbow grease it should make a pretty good shaver, although I've never shaved with one. But ERN being/having been a relatively big manufacturer, I don't see why it would be a low standard blade. ERN is a relatively common Solingen brand I reckon, I see them popping up for sales regularly on various online auctions. It seems to be made of Swedish steel indeed, going by the etching/wash, don't know how 'hammering an edge' would work in reality.

Just my thoughts.