As Norris points out the workmanship on this frame looks pretty basic. To be confirmed with better photos and/or a visual examination.
As an example of Rene Herse refined workmanship it is of no interest whatosoever.
On the other hand, it is an extremely early example, I would say one of the earliest known to date. So collectible, if not beautiful. The parts are extremely interesting (Speedy brakes not Herse). Depends what you are looking for. I wouldn't want it in my collection, but the type of collector wanting the earliest possible example of a marque would bid.
Alexander March
Bordeaux
France