Classic & Vintage - Atala Grand Prix Worth Saving?

I picked up an Atala Grand prix yesterday for $20 from a junk shop when i noticed it had a Campy nuovo record rear derailer (5 speed). The serial number leads me to believe its from 72.

Anyway, the frame is in decent shape and it fits me and I would like to turn it into my daily driver if I can keep the price down. However the rims are heavily rusted and a few spokes are missing and I am afraid it will have to be rebuilt/replaced. It also has no shifters.

I know this is limited info, but do you think it is going to be worth the hassle to fix it up? Should i turn into a track bike?
Or should i junk it before i turn a $20 gamble into a $200 headache? I had my bike stolen last week so I am looking to get back on 2 wheels ASAP.

Thanks in advance.

The Grand Prix was a mid-range model. for more info and specs check out:

http://www.classicrendezvous.com/Italy/atala/Atala_advert.htm

I bought one last year and would gladly pay $20 for one like you describe.

I've ridden a Giro d'Italia (one step down) for over 30 years. If it were me, I'd start looking for wheels and shifters.
Top
(who has both, if you decide to dump it......:D )

Thanks for the link. Mine doesnt seem to match up that well with the ones on that advert (colors, components etc), but i am planning to do some work to it this weekend and see how it goes. If it seems like too much work you may get your chance to "gladly pay $20 for one like you describe"!!

Keep us posted!

Of course, to my way of thinking, any Italian bike is worth saving......

Top- Let me know if you are interested in parting with your wheels and shifters, if that is what you mean when you say you have both.

Interesting. . .I'm restoring [more like rescuing] a Grand Prix right now. Lots of chrome; I like that, but it's no great performance ride. I'm doin' it mostly for sh!ts and grins. . .and an excuse to listen to NPR. It was a real rust-bucket and it'll cost me $100 before I'm done. That said, it's got horizonal drops, so fixie/single/track is a possibility for you.

Worth saving? That's a matter between you and the Oxidation Gods. 'Course, any rig that's got cottered cranks is a bit of a dinosaur.

Top- Let me know if you are interested in parting with your wheels and shifters, if that is what you mean when you say you have both.

Not at all. I was implying that you need to ship this wreck of a bike to Maine before it costs you a single dime, for once you begin to put money into it your doomed. I would, of course, ensure you a handsom profit, close to 100%....:D
Top
(who needs another road bike like a hole in the head, but just happens to have a NIB Italian-thread Dura-Ace BB laying around)

As an update, I went ahead and tried to get this thing fixed up. New aluminum wheels, vintage Campy NR shifter, new cables throughout, new tire. I have created a $170 headache. I hate this bike. It needs a new seat, the cassette changed, another tire, new brakepads and a few hows fo my tinkering to get this where i would want it to be, but i actually think its too small and don't even want to touch it anymore. Oh it hurts. At this point I am trying to figure out how much i can stand to lose when i sell it.
dave

What size is the frame? Would you be interested in trading for a larger 25 inch Raleigh Grand Prix frame of similar vintage, or a slightly smaller Raleigh Record (made in Taiwan) frame? Where are you located?

pm if interested.