It's a Sako 75. The III is on the side of the action is for the action length, 22-250 up to 308 win. If it had an IV it would be for 30-06 length cartridges and V is for the longer Magnums.
The Sako 75 is not that old of a model. The 85 replaced it some years ago with only a few small changes.
My own Sako 75 started out as a .243 Finnlight when I bought new. I took the gun right to my smith and had the 20" SS fluted removed and a custom SS 24" Douglas air gauged barrel in .308 installed. I like mine quite a bit as it has a good weight, balance, fit, feel, and accuracy. They are well made rifles that should last you your lifetime and then some.