Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - Worth? 70's Schwinn Fastback worth flipping?

http://images.craigslist.org/1f91361gb3k03oe3l88bq9497bd1c2cd2153d.jpg
http://images.craigslist.org/1131281g93k83o63l48bq3b958cce8d7d1a37.jpg
http://images.craigslist.org/1111281423k23m83p78bq4f27c9fe251811ab.jpg
http://images.craigslist.org/1f812c1313n23o23p48bq9defc31657e111a4.jpg


If I got this and cleaned it up (shined the chrome, regreased the bearings, and waxed the frame), how much would it fetch on Ebay? Any guesses? I've got some $$, but not enough to finish the build of my new race bike. My thought was investing what I've got in this, cleaning it up and putting it up on Ebay, and maybe netting some profit to help the finance the build. Or has the Schwinn Crate/etc. collectors market dried up?

EDIT: He's *asking* $200 for it.

I don't know the market for the old schwinn 20" bikes that well but $200 seems a bit high considering the rust on the cranks & frame. Also I can't tell if that is rust or dirt on the bottom bracket, where the down tube & seat tube meet. If it is rust, I would pass.

Most of that will clean up from my experience. Consider this Fastback as an example. http://cgi.ebay.com/SCHWINN-FASTBACK-CAMPUS-GREEN-1970-BOYS-VINTAGE-20_W0QQcmdZViewItemQQ_trkparmsZ72Q3a1205Q7c66Q3a2Q7c65Q3a12Q7c39Q3a1Q7c240Q3a1318QQ_trksidZp3286Q2ec 0Q2em14QQhashZitem110315782503QQitemZ110315782503QQptZLHQ5fDefaultDomainQ5f0QQsalenotsupported

All he's done is exactly what I had considered doing- stripping off the components and polishing it all up. His green Fastback is sitting at $185 (+ ~$30 shipping) with over 2 days left. Then again Fender1, I totally see where you are coming from. Given the pictures above it really could be a lame pig and a waste of $150 (the offer I was considering). I'd really have to go over it with a fine toothed comb, maybe ask if he'd let me try and loosen the stem and seat (to see if they're rusted together).

I just don't know. It's a risk plain and simple. Then again $150 isn't going to pay for a set of STI "brifters", let alone F & R derailers, brakes, and a wheelset. Not saying that I could sell this Fastback for enough to cover all of that, but the hope is that it would get me closer. :)

More input earnestly solicited.

I am not a Krate or Fastback expert, but if all the chrome is sound under the rust, I'd probably wave $150 cash at him and see what happens.

Factor in your ebay selling fees, any paypal fees/surcharges, any costs associated with packing and shipping it including the cost of gas to go get the box/tape/padding materials.

My thoughts are:
1. If you buy it for $150-$200 and do the clean-up and don't get any return on your money and labor will you be satisfied with the deal if you just break even on cash out of pocket once all the dust settles?

2. Will you post it with a reserve price or let the market set your price? A lower opening bid with a safe reserve used to save you some ebay fees if the sale doesn't trigger your reserve minimum, I don't know the current ebay fee structures.

3. If you buy it and clean it up will you be content with keeping the bike if it doesn't get any offers to at least cover your out of pocket costs?

My gut feel is to watch that other auction and see how it pans out. Only you can decide if you pull the trigger on the one you're looking at before that other auction ends.

I was hovering over an old Trek 520 earlier this week, when it hit $200 I was out of the game, when it hit over $400 I was amazed. I then hovered over a Gitane thinking it would go for $50, I watched as it approaced $80some dollars (86-89 or so), I hesitated as I expected a bunch of snipers or bid-bots to come swooping in, I was surprised when it sold for that 80something price. What I'm saying is that it will sell for whatever it sells for depending upon who's watching and wanting something like you're selling. Go for it if you're comfortable with the risk, you might get lucky, or you might end up riding around on a Fastback in the springtime waiting for the summer market to open up some more interest to try and sell it again.

Bottom line is that I'd at least try to get a close look at it in person before laying down the cash. Wiping the rust off your finger onto your pants leg after inspecting it just might soften up the seller a little on the price, or not.

While it appears to be mostly original its condition is no where near that of the green bike. Besides...its yellow.

One of my golden rules of flipping is "if you dont know its worth it, dont buy it". There's alot of money to be made in flipping, I dont see it with that bike.

I know your trying to determine its worth by asking here, which I have done myslef, so you are doing your homework which is good.

Ebay/paypal fees will be ~10% or so.

+1 Miami Jim's rule. Unless you want to treat the $200 as tuition for a bike flipping class, better to stick with cheaper name brand road bikes. Preferably one in your size so if it doesn't sell, you won't mind keeping it.

I don't think the Schwinn craze has died down, Schwinn is probably one of the most recognized US manufacturer of bicycles. I don't know much about fastbacks either, but as far as Schwinns go there seem to be a lot of them around. My first bike was a Suburban that I paid 100.00 for... then I found one for $20.00 like a week later.

Also on top of sellers fees I would figure another $50.00 or so to fix it up. It looks nice, but at 200.00, and the condition is it in, I would only be interested if I was planning on keeping it. Who knows though, Schwinns of this style seem to be more collectable?

Try the schwinn.com forums, I bet someone there could tell you about that particual bike.

+1 Miami Jim's rule. I was buying every old gas pipe bike I could find and learned a lot about value or lack there of.

Good luck!!
-Matt

I dug around on the schwinn forums for a bit of info. Looks like the Fastback you are looking at has the Sprint Cranks which seem to be desirable (also makes it older). I also read that the earlier models had "deep tufted silver glow seats" that are sought after. It's hard to tell if that seat is yellow or aged silver.
Here is a pic I found to compare to:

http://www.schwinnbike.com/usa/eng/forums/attachment.php?attachmentid=95916&d=1228080928

+1 Miami Jim's rule. Unless you want to treat the $200 as tuition for a bike flipping class, better to stick with cheaper name brand road bikes. Preferably one in your size so if it doesn't sell, you won't mind keeping it.

I practice what I preach as well. A few nights ago I dorve 45 minutes to look at and early 80's Made in Italy road bike. When I arrived I was very disappointed. It had Ofmega components. Not knowing much about them (other than they're a campt knock-off) I walked away.

Yesterday I drove the same distance to look at Tommasini and knew I was buying it as soon as I saw it because I knew what I was looking at. A Columbus tubed frame & fork, mostly Campy G.S stuff, a SR front derailleur and a white leather Concor America seat.

I'm sure the Bianchi was worth $200 to someone and maybe I could have talked the guy down to $180 but to me there was no 'flip' potential.

+1 You never know how well you will do on ebay. Sometimes items are grossly overpriced, sometimes fair, other times cheap.

I picked up a cromoly framed Univega (Supra Sport) earlier this week in very good condition that I picked up on ebay for $21.25. I think the seller thought he would have done a lot better than that. I put in a really low snipe bid just in case it went cheap. Otherwise, there isn't enough margin for me to flip it.