So here are the details!
This was a craigslist find for $300. Since the last couch I bought was only $80 from craigslist and came with a matching chair, this price was initially a little hard to swallow, but it's a really fair price. It's an antique and in immaculate condition - blue velvet, yum :)
Here's what it looked like on c-list when I saw it...
And now it is all mine and Tim's (the cat's love it too!)... part of our new living room which you can look at in its entirety (with more pictures of this hunky couch) here!