Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - Looking for thoughts on this 1978 Olmo (with pics)

My dad brought this bike home with him. It belongs to the a co-worker but I'm considering taking it off his hands. It's been sitting in a barn for some years so I don't think it'll cost much to do so.

I don't have direct access to the bike, being that I'm in Winnipeg and my folks live in Vancouver. Nevertheless, my dad gave it a going over and it seems to be in good working order (except for needing some new rubber). It shifts smooth, and the rims are true. There's a few rust spots but nothing of consequence.

So first of all I'm wondering what it's worth (as yet, there's no asking price). The guy i'd be buying it from isn't the original owner but said he paid about 1300$ for it in the 80's. He also said that this colour was all the rage back then.... I'll have to take his word for it there.

Secondly I'm just looking for general information about the bike. I'm totally unfamiliar with Olmo, new or old. Was this bike on the lower end of the spectrum in it's heyday? Is there anything I should be aware of before buying, considering the age of the bike? Any other thoughts or comments are welcome.

It says "Competition" on the top bar. That's the model I'm assuming? The drive train components are Campagnolo. As far as I'm aware everything on the bike is stock.


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This bike is exactly what it appears to be--an early '80s artisan-quality Italian road racer. Guiseppe Olmo was a pre-WWII pro racer who started his bicycle company after he retired. Here's what Sheldon Brown has to say: http://www.sheldonbrown.com/vrbn-o-z.html

I can't tell you what it's worth now, but I can confirm that $1300 Canadian would have been a very fair price for one of these 25 years ago. It's clear that this is one of those highly pantographed examples Sheldon writes of. Also, the detailing shows that these bikes were built by Olmo's own craftsmen and not a subcontractor. It's a perfect example of why Italian road bikes of this period were in such high demand and were being copied increasingly by North American builders. We need to dig the refinements of the classic diamond frame--moderate seat and head angles, rear wheel snug against the seat tube (but not so close as to prevent speedy wheel changes), the low bottom bracket for stability and all-day comfort, the gracefully bent fork blades, the fine metalwork and finishing, and the classic components such as the Cinelli 66 handlebar and 1A stem.

This bike is a gem. If I were rich and a few centimeters shorter I would not hesitate to try to take it off your hands. If I were really rich I would have the frame stripped and repainted, but if I had it in my possession now I'd be content to just tear it down to the frame to clean it up and re-pack the bearings, replace the worn or aged rubber and cables, and ride the snot out of it.

Just watch the rust spots where the paint's been chipped. It may have to be refinished eventually.

This bike is not appropriate for conversion to a fixie.

In vancouver's inflated market the owner could easily sell it for $350 maybe even $450. It's definitely worth that parted out. It all depend on the situation, some people are happy to pass along an old bike even knowing they are selling it below market value because they know it's going to someone who will appreciate it. On the other hand if the owner is selling it because he could use the money and wants to really get what it's worth that's a little more sticky. In the first case, you should ask him what he want and give it to him if it's less than $400. In the later the honest thing to do would be to tell him to put it on Van CL for $500 and see what happens. I bet he'd sell it within 5 days for his asking price.

It's clear that this is one of those highly pantographed examples Sheldon writes of. Also, the detailing shows that these bikes were built by Olmo's own craftsmen and not a subcontractor.

I beg to differ. The frameset is built quite nicely, yes, but not a single component there is pantographed, nor is it comprised of a single groupset. The only Campagnolo components on it are the shifters, FD, and RD. Granted, the Modolo brakeset is very nice, but it isn't in the same value range as a Campagnolo NR brakeset - neither is the Ofmega crankset which is quite differing in price to a Campagnolo NR in general market value.

P.S.: Frame has to be post '78 - has a Porta Catana-tapped dropout.

-Kurt

As the discussion seems to be in the "what is it worth" category, I'm moving this to Value Inquiries (from Classic & Vintage).

--Juha, a Forum Mod

It's a nice, well-made Italian racing bike of the period. It's neither pantographed nor is it "artisan quality." I saw a gorgeous pantographed (with "Mexico" cranks) Olmo just the other day that is several notches better than this one. But as I say, it's nice, just not nicer than a whole lot of other Italian bikes of the period. I think cyclotoine's value suggestions are right in the ballpark.

It's a nice, well-made Italian racing bike of the period. It's neither pantographed nor is it "artisan quality." I saw a gorgeous pantographed (with "Mexico" cranks) Olmo just the other day that is several notches better than this one. But as I say, it's nice, just not nicer than a whole lot of other Italian bikes of the period. I think cyclotoine's value suggestions are right in the ballpark.

+1.

-Kurt

I really appreciate the input folks. It's been extremely informative and helpful. :thumb:

We settled at a price of 250$ :) I can't wait to get my hands on it!

I really appreciate the input folks. It's been extremely informative and helpful. :thumb:

We settled at a price of 250$ :) I can't wait to get my hands on it!

You did very well for that bike - congratulations.

Agreed. Excellent deal.

-Kurt