That's a very early Hoffman. I've seen a TV-only version, which had a 721-TS RCA chassis. Looks nice, and MUST be saved... Very rare. I grew up collecting TVs in the Hoffman capital of the world (Los Angeles), and only ever have seen 2 of the pre-1949 models. I've even had a Hoffman prototype 19" CBS-tubed color set, which I got from a Hoffman retiree.
Regarding the price, though; I think this year's crop of pot up there in NorCal is extra-potent
Charles