I recently bought a '96 Trek 1220 in almost mint condition. I had to replace the original tires, the cords were rotten. The guy I bought it from ask what I would give him for it, I said what do you want. He wanted $75, I bought it, I was willing to pay him up to $150 but he didn't know that.
He asked me if I wanted to know what he paid for it at a rummage sale and I said no.
It has turned into my daily rider.