Never seen that one, that I can recall, but I'd GRAB it, just based on appearances.
The tonearm looks to me like one of the oil-damped Grace ones, which are well-appreciated, even today. Used on Sakuma tables:
http://www10.big.or.jp/~dh/codo/arm/arm.html
Also pictured here:
http://members.myactv.net/~je183/retro.htm
If that is a Grace arm (not sure; there were a few others with similar shape), it's worth getting, just for the arm. The two buttons on top of the headshell are probably a way of switching between styli (78 vs 33/45).
The wording below the knob on the left looks like "Majestic" to me. I can't find any turntable that matches that name and looks like yours, though. There is mention of a Grundig Majestic, though, in a listing for replacement styli. (?

)
Someone here will probably have one, and ID it better than I can. I do think the arm is a Grace one, but I could be wrong; there were others with a similar shape.
UPDATE: Okay, "Majestic" now looks like "Realistic," after bhundo mentioned it. Yes, it's probably a Realistic one. I think bhundu is right, even though the pic he shows isn't the identical model. Well, I tried!

If it's a Realistic, then I'd still go check it out, but I think I'd walk briskly, instead of running!
