I think that the "Rare" bit is referring to the colour as Helios Blue isn't very common at all.
It's a real pain if you buy a car without a V5.
When I bought my 16v Mk2, the owner told me that he had the V5 (and MOT) but that he'd left it at work. So thinking he would send it to me when he went back to work, I bought the car and went home. 3 months later the V5 hadn't turned up. So I phoned the DVLA told them I'd bought it, they said it was still registered to the previous owner.
It took a couple of months of phoning the guy to get him to fax a letter to the DVLA to tell them it now belonged to me, then I had to wait for the information to be entered into the DVLA system before I could go to the DVLA offices (you can't to this at a post office) and register the car to me officially.
Then I took the car for an MOT and found it needed £300 worth of welding even though I was told that it had 10months MOT when I bought it.
So be careful when buying.