Mountain Bike Racing - Fair price for 1989 Rockhopper Comp

I have decided that I'm going to break down and buy me a new bike with with my tax rebate. I have an 89 Specialized Rockhopper Comp and a 90 Raleigh Eclipse commuter style hybrid that I'm going to sell to help ease my sticker shock.

I don't normally pay attention to prices and models and so forth so I don't really have an idea as to what I could get for them. To stay on topic I'm asking about my rockhopper here and my commuter in the proper forum.

The Rockhopper is an 18 inch frame with a 29 inch standover. It is almost all original including the toe clips, shifters, brakes, wheels and tires but in reasonably good shape for a 20 year old bike that has actually been used. I do all my own adjustments and have kept everything in working order. I have used it mostly for park bike trails but it does have moderate paint chips from being laid over and transported etc. so it is not 100% "Like new" condition.

I have seen some really trashed specialized bikes with asking prices more than the new bike I want but, being almost 20 years old, I'm not sure if this one would be considered "Outdated" or "Classic", It can be a fine line between them.

Any input about what I should ask/expect would be appreciated

I'd pay $200 INCLUDING SHIPPING. Shipping costs usually run around $70-80, so around $130 seems like a fair price. This is a rigid, right?

The original tires and foam grips were still functional but a bit of an eyesore... I just picked up a set of IRC red sidewall tires and red/black grips to dress it out and I think that will make a big difference. Now I'm looking for a new spoke/freewheel guard since the old one was pretty yellow.

I'm thinking about putting some automotive touchhup paint on the few paint chips that go to metal, does this work well on bikes?

1989? I think free would be a fair price. Donate it.

Actually, this bike is sparking a lot of interest on the local level. One offer is as high as 3 bills. I think it is because it is a well built rigid. There seems to be some kind of push-back against the use of shocks on everything now.

I know I view the maintenance and potential for failure as a negative and don't see a need for them the way I ride. But if you go into Wal-mart you even see them on the cheapo bikes. I'm debating if I want to sell this one now since I have been to several bike shops and have not found anything I perceive to be as well built. Maybe I'm just getting old and crusty.

If you can get $300, why isn't the money in your pocket yet?

You sound like that Yahoo CEO who blew out the Microsoft offer much to the dismay of his shareholders. He's going to have a rough week too.