I think if you are wanting a 1933 for a particular reason, and not to shoot, you specifically want a Colt and you don't want to spend more money...well, then...this may be the pistol for you. Pistols produced post-WWII are better shooters, IMO. And your money goes further on condition, the more current production you buy.
The pistol appears to be well-worn, indicating it was at least carried a lot. Stocks are not original. We do not have any other info to go on to assess how original or functional the pistol may be.
I've seen a few of these for sale at gun shows recently, so I suspect they've recently been imported. A lot of commercial Colt Government Models were sold outside the U.S. The seller is correct...non-import and high condition Colts from the same era typically do sell for quite a bit more than $700. The real question is...what do you want? If you want something pretty to display or appreciate over time, this probably isn't it.
There aren't any military M1911A1 pistols from 1933, so if you want one from that year, you will have to find a commercial. I do not know how many of the recent imports are from 1933...maybe all of them? Maybe only a few? I'm sure some of the fellows who follow the imported sales pistols on the market will reply.