Late 1980s Paramounts as well as other high quality bikes seem to sell for fairly bargain level prices - that is, considering the high overall quality. They are too new to be considered serious "collectibles" by many people. And, they lack the fancy old lugwork and flashy chromed head lugs which many people seem to love. So, they are sort of lost in a vast sea among many other good quality imported steel racing bikes of the period.
Paramount was having tough times justifying their top level prices and sales were falling. They were struggling to change their racing image during the PDG (Paramount Design Group) era. Unfortunately, this was a period when much lighter weight aluminum and titanium racing bikes were gaining recognition in serious racing circles. So, they were mainly appreciated by die hard, often nostalgic, Schwinn fans. I think the plain looking style was an attempt to simulate the plainer looking Italian racing bikes (Masi and such) which were noticed as having much better sales success - at least during the first half of the 1980s.
The components on the Paramount were still top quality, so if those are still on the bike they would be a definite asset and may even be more valuable parted-out for someone's recent era restoration of another bike. Don't get me wrong, the framesets were still fine quality and well made. So, a good choice for someone content with a heavier weight racing bike... But, who is (or was) seriously looking for a heavy bike with racing geometry? A tough period for steel racing bikes - perhaps a last ditch hope at the end of the Steel Era.
Steel bikes are making a comeback today. BUT... they are a very different style and a different geometry - generally bikes which are used for more general purpose recreational riding, rather than the short wheelbase racing style bikes. Most Rivendell bikes would be typical examples of this.
Apart from modern multi-thousand dollar custom built bikes, high-end steel bikes of the 1970s and earlier are holding their value or even appreciating. For fixed gear conversions, any thoroughly cheap bargain finds which can then be pimped out with flashy colors from a nice cheap powder-coat seems to be the general preference. So I think the Paramount would not be a very desirable choice for cashing in on this trend.
Personally, I'd say first go ahead and find out the date from the Waterford website... then place the bike on eBay or Craigs List. And be happy if you get a quick $500... which is still
20 times! what was paid for the bike. And this should definitely finance you a top rate completely new fixed gear/single speed bike actually made for and better suited to that intended purpose.
Good Luck!