From what I can see of it, it looks like it could be a working wheel.
I'd like to get a better view of the flyer/bobbin/orifice.
I've never seen anything like that contraption on top, but yes, it could be used to skein the yarn after it is spun.
The bobbin is very, very small and wouldn't hold much yarn. I'm not seeing any hooks on the flyer and am wondering if there is an orifice.
I'd give $75 for it since I would have to find additional bobbins