Collectibles are taking a massive hit. As described above, you can probably turn $50 bikes into $200, with a lot of labor. But you're not going to turn $50-$200 bikes into $1000 bikes without investing a ton of time finding super secret projects, and there just aren't enough of them out there. Also, people's disposable income is tanking too, so the people who might have been in the market for expensive bikes might now be looking for beaters.