If it's the Terry Smith from Sheffield of Anglers World fame (and not the bloke from next door but one who happens to share his name ) then £15 is a steal. Most of his rods were constructed from the blanks produced by North Western Blanks (Manchester area) who I believe ceased trading quite some time ago and some are very sought after.
He was producing long rods for heavy feeder fishing long before Preston started selling the Dutchmaster - a rod which wasn't a patch on his version - or at least so he told me at an Anglers World roadshow once
I'm not familiar with his waggler rods but I would imagine that, since many of his rods were designed for the big lakes of Ireland and Denmark, catching big weights of bream and roach, it'll be a fairly powerful rod. Personally I'd snap the sellers hand off - even if you don't like it I'll guarantee you'll get more than fifteen quid for it if you sell it on
As Simon says above the original blanks were Shannonvale supplied by North Western Blanks in Leigh the later ones were Tricast either way they are quality rods that retailed at a high price in the 80s/90s