Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - '70s (?) Raleigh Grand Prix

Is it worth $60 in general "project bike" condition?...complete, but needing maintenance/overhaul on everything? I don't know if it has cottered cranks, but i do know (or at least the owner believes) the BB has Raleigh-specific threading that means the choices are to use it, re-thread & have a questionable setup or buy some Phil Wood stuff. I was thinking of making a respectable city bike (upright bars, maybe fenders) out of it & in truth would not find it terribly interesting to restore. This is what it looks like:
http://images.craigslist.org/3k13pc3l8ZZZZZZZZZ95db937ee765c2e1571.jpg

$60 is a decent price in my market. Perhaps a little high. The crankset looks cottered - as far as I can tell from the picture. It looks stock and is very much like my 73.

Buy it but keep it intact. Use it or sell it to someone who appreciates it as-is

Grand Prix's are very popular. But, they are not chromoly and are a tad heavy. The market is totally wacco right now. $60 is usually a tad high for a GP that needs work. But right now the frame is probably worth that. If it's straight and you like it and if fits you, I'd go for it as long as you know that's a keeper price, not much room for flipping.

My limit on bikes like the Gran Prix is $20. Yes, I know that is low, but the upside on such a bike around here is too limited. Of course, this is on a flip. I don't keep cottered crank steel wheel bikes. Too much better stuff out there.

I debated picking up a Varsity Tuesday for $16 (I passed on it Monday for $20, but Tuesday was senior discount day). But the paint was really nice, and my project pile is getting light, so I went for it. Probably a mistake as a flip. I do have some take off tires, so my expenses on it will be minimal.

The problem/challenge of restoring and rebuilding bottom end bikes is that it costs just as much in parts, and takes just as much time (often actually more time as nicer parts tend to disassemble easier) as it would to do a mid grade or better bike. And when you are done, you have a nice bottom end bike, that has little value in most markets. Its really easy to get upside cost wise on low end rehabs.

thanks. Not really interested in a flip....it's a bike guy who wants something different, so if he wants to milk it, he should know what to do & how to do it...I'd hope he has some profit in it selling it for $60 anyway. Sounds like I should move on since I'm really not the ideal owner for flipping (a temp owner) it, restoring it, or for turning it into anything particular nice....not that I don't make bikes nice, just that I would spend more money making that one nice than I would making any number of other bikes even nicer, so I know it wouldn't happen. Hope it makes it back into circulation though...