Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - I picked up a Schwinn Continental yesterday...

I think it's a 78, build date according to the serial number is oct 77, but from what I've dug up it's a 78. I guess like cars, the next year bikes are already in production during the preceding year. Anyway, it's mostly original, looks like the saddle has been changed. It's a sprung black saddle, stamped made in taiwan on the bottom. It had an old steel water cage that had a clamp type mount since the bike does not have any sort of bottle mounts. Everything else appears pretty original. Frame, cranks, front and rear derailers, brakes. Wheels appear to be original steel, tires may have been changed at some point but they look pretty old as well. They actually hold air but have flat spots I guess where the bike had been sitting for some time. But when I got it, it had air in the tires and I actually took it for a quick spin up and down the block. Shifters and derailers are a bit sticky. Wheels and other chrome parts have surface rust. Some paint chips, but no real rust on the frame. Original decals are there but the schwinn decals are pretty rough. The Continental II on the top tube is nice, along with the made in chicago decal and a decal from an old bike shop. I kinda like the brake levers with the other set of levers if you are riding on the flat part of the bars. it has the shifters on the top tube right by the stem.

I guess my point is, I got this bike REALLY cheap. I saw it hiding out in the corner of a goodwill retail store next to a couple kids bikes and a womans huffy cruiser. So I picked it up with the intention of selling it. I need the money for school and I have a bike already but I'm starting to think about keeping it. I started cleaning it up a bit, but as I keep going and shining parts up I don't want to part with it. If I just leave it pretty much as is, how much less am I going to get for it than if I clean it up and get the shifters and everything working? I don't really have any money to put into it, so really all I would do is clean it up, not replace tires or anything so the new owner would have to do that anyway. Any ideas about what I should do with this thing in order to sell it? I'll get it over to my apartment soon so I can take pics for you guys.

If you have the skill and time, $25 in parts will get you $100 more for the bike. Projects/need work bikes go pretty cheap. Buyers want bikes ready to ride.

At the same time, if you get a super thrift store score, say $10, you should be able to just clean it off (knock the dirt and cobwebs off) and sell it as is for around $40. A nice profit for no investment and very little time.

okay so maybe not really cheap but I got it for 20 bucks. I've started cleaning it up and doing some adjustments and it actually rides really nice. Needs some tires as they are a bit dry rotted but the tubes hold air. I may just keep the thing and sell off my Diamondback Transporter that I never ride. I got some pics for you guys too.

That's incredibly clean for a TS bike. Go to Walmart, get the $5 cable kit, and buy some inexpensive tires. Grease up the wheel and bb bearings along with the headset, and you are golden. I usually use the low end tires from Niagara for a bike like this, $5 each plus shipping.

Well, he pretty much said it all.

Yeah, it was a bit crusty when I got it but I already started cleaning it in the pics. Under the dirt and superficial rust it seems pretty solid, I think it may have been sitting for a while. I think I'm going to put some cheap tires on and new cables and ride it. I may throw it on CL to see if it sells but I really like the smooth ride compared to my Transporter which is basically a mountain bike and probably slightly small for me. If it dont sell for something decent I'll keep it, for what I paid I can't really go wrong.

BTW the tires on the bike are some old IRC 27" 1 1/8". Will 27" 1 1/4" fit?