This unit does look legimitate to me. It appears to be a Fet-Valve Pat-5 built by us in the early 1990s. It has a perf cover we used on most of the tube based units and our jack set installed, and does have a phono section as the phono ground thumbnut was not used on units without phono. It has a custom black faceplate we tooled for that application back then (before we had tooled our own chassis).
The appearance looks excellent so I would suspect it works just fine and the asking price of $700 is not out of line.
Note that we have not made a "hands on" evaluation of this unit, but it certainly does not look like a scam.
It can be upgraded to new Transcendence Seven "R" status for $999. Lots of work, have to redo the audio boards and the power supply, not much salvaged except the internal control and switch wiring.
Frank Van Alstine