Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - 1986 Trek 400..48cm. Does the size make any difference in value?

I picked this up the other day because I had to for the price. I did the overhaul and now it's a flip bike.
I have read a few posts so I know it's of value to the right person but in general what's the rule of thumb for smaller bike values and smaller Reynolds framed Treks?
Except for the saddle and bar tape it looks to be all original per the Trek catalog. Tires might be original too, not sure but they are in real good shape.

http://i41.photobucket.com/albums/e300/tmh657/Trek%20400/Rear_1.jpg
http://i41.photobucket.com/albums/e300/tmh657/Trek%20400/Side_1.jpg

Being smaller will bring the premium versus it being Reynolds. I dont deal much in big bikes but from my recent experience I'm begining to think a small bike can bring $25-50 extra while big bikes bring $25-50 less.

Lower the seat post to edge of the flutes and level it. Cables are too long. Otherwise it looks good.

Thanks for the tips miamijim.
Things went well on this project. The day I listed the bike on CL a young woman put a WTB ad for a 48cm bike. Said she wanted to spend $100-$150. I convinced her and her parents that a spending a little bit more gets you 5 times more bike in terms of a quality frame and components.
I learned that here on BF of course. I sold it today and now I am out of projects for the moment. It's a bit weird not to have a couple of bikes in the queue.

+1 In my experience, a good 19 inch mens frame road bike like your Trek 400 would bring $25 to $50 more than a similar 21 or 23 inch frame bike. All of them that I have sold went to women riders.