i don't know much about the 59 Cameo as far as rarity and value. It seems in good shape but that doesn't look like a frame off resto to me. the whole idea of a frame off is to clean restore and paint/powder coat each part. The interior of this truck looks pristine but under the hood is the question. Why do a frame off and not clean and coat the frame and engine?
I wouldn't consider it without a real up close in person inspection and a test drive, but there are guys on this site much smarter than me whe it comes to these things. I am sure they will chime in.
Rich