I presently have two Dreams. One a Lux as that one and a Dream HP. The Lux takes a little getting used to because it is really stiff. But once you have that down they are GREAT bikes. This frame and fork came in four or five different models. That sort of looks like the first version with the fork changed to the carbon version.

The earliest one had a steel fork I believe which was probably superior to the carbon fork since I just had a carbon fork break on the C40 in my picture. Then there was a Lux version that was the same except for a carbon fork. And then I think there was a Reflux which had a carbon B-stay. And then the HP which had the rear triangle out of a C50.

The aluminum frames are VERY strong and reliable unlike the carbon bikes.

I don't know nor care about the year of these aluminum bikes but you should not buy a carbon bike from an Italian source older than about 15 years.
FYI ...

The particular, aluminum framed Colnago dates from ~2001 (I believe that's when the downtube derailleur cable guides superseded downtube braze-on mounts on most Colnago frames ... the exception being the steel Master X-Lite) ...

The Shimano Ultegra 6503 group dates from the same period ...

The LBS/retail cost where I live would probably have been about $3000(US) +/- with the unknown variable being the wheelset.
BTW. Based on the appearance of the teeth on the Chainrings, Cogs, and Pulleys (all of which could have been replaced at some time, but I'm going to presume they are the original components), I reckon the bike has seen less than 6000 miles of use.

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