May I extend this thread? I looked at a campus green 1972 Schwinn Varsity at a local Salvation Army store yesterday and wonder if I should have bought it. It seems SA prices have risen, despite the poor Detroit-area economy. The price was $39.99, with a one-day discount of 35%, on a bike that was mostly intact except for a missing headbadge. The chrome was badly rusted on the wheels and the RD. The frame seemed straight and the paint dulled, but not chipped as bad as my own '72 Suburban, although there was plenty of evidence of chain slap on the chainstay. I felt that even the final price of $26 was too much for a Varsity in this condition, because my intent is clean it up, make minor repairs and resell it.
So is $26 too much? I asked the store clerk about prices, and she assured me that the price would likely never be lower than the 35% off, because bikes sell quickly there.