Classic & Vintage - 48cm Bridgestone-dented-worth $500-why??

I don't know anything about selling prices of vintage bikes,so I need some help .
Why is a 48cm Pumpkin colored Bridgestone bike-with a dent in the top tube,lost of scratches-bit of rust-marginal paint-worth $500??I'm looking at it because-1)I'm short 2)It appears to lots of extra tire clearance.
I just don't understand the current $400 bid(roughly $70 shipping).I always assumed that a dented tube is the kiss of death(yes it is steel,but a dent doesn't improve steel).I would never even consider a dented tube bike-unless it was discounted to parts bike price.I must say,I am kinda considering this one.
It is a 1993 X0 or something like that.It doesn't appear special in any way to me.Usually extra small bikes-frames-sell more cheaply than midsized(55-62cm) frames.There are far fewer buyers.Thanks.Charlie

Japanese collectors will pay stupid money for small bikes. The old Bridgestones have a cult following also willing to pay stupid money. If it's an X0-1, it's especially collectable. Dent or not.

It's an XO-1 and they demand high prices, but that one is a POS. I wouldn't give $50 for it. It looks like it's been sitting outside. Look at the rust on the chainring bolts. The $70 for shipping is too high.

A picture I saw of one of your bikes looked like you were trying to turn a road bike into a mountain bike, with huge tires and upright bars. Have you considered starting with an early rigid mountain bike? Just a thought.

I have a Bridgestone MB-2 that I think is a very nice bike, but I still think Bridgestones are overpriced and overrated.

I have an RB2 I like a lot, but it was forty bucks and has no dents at all.

The Grant Peterson connection drives the price of these up beyond other period mass produced Japanese bikes, most of which are pretty nice.

OK-so Japanese bidders like small bikes-obvious reasons-and they have a particular affinity for Bridgestones.I hafta agree with Dirtdrop-this one is just one step above a POS-brakes not connected-scaling paint,scratched,rusted,a dent-ugly color.
Thanks Halfspeed-dirtdrop-poguemahone.Charlie
PS-Dirtdrop-I'm coming to the same sort of conclusion;the problem is that I have theses frames-bikes-mercian,Sekai,but I don't have a early hardtail.I couldn't bring myself to sell the mercian and the sekai is worth very little(less now post mods,but worth under $50 pre mods).With bigger-wider tires I can ride them,so....-they get bigger tires.Plus-I have long ago run out of spare rooms-one spare bedroom is filled with motorcycle,gun,reloading.bicycle,general tools,truck,car-STUFF.We-me-have 6 "running" bikes.I'm sure you know how it is-too much stuff,too little room,and too little $$$.Thanks.Charlie