Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - Shimano 600 value?

About a year ago I stumbled onto a minty clean Nishiki International frame and fork in my size for cheap at a flea market. I've been looking for components to build this up with and spotted a set of Shimano 600 EX Arabesque components as a complete lot on eBay for $299.99.
(Item number 230583770469 )
I was sort of thinking that this group would look good on the Nishiki frame, but was wondering if this was the going rate on this stuff?
I don't mind spending the bucks but I had hoped to build the bike up with all new parts for a lot less but after a few visits to some bikes shops, I see all the old parts are either gone or they want a fortune for them.
I already have two Shimano 600 hubs, I have 600 brakes, and I have the stem and seat post, all were found at local bike shops. One shop has a rear derailleur but wants $60 for it, another wants $200 for a crankset. One wanted $150 for only the crank arms and didn't have chainrings at all. I gave $80 for the seat post and stem, but both were used and pretty scratched up. I'll have to spend a lot of time cleaning them up and polishing out the scratches. I always really liked these parts, the cranks remind me of Campy cranks and the derailleurs just look classy for some reason. They always looked to be about the same as the early Dura Ace stuff to me as well but with better style.

I'm sitting here debating whether or not to just bid on these and hope I get them for the minimum bid or to just wait and see what turns up. How rare is this stuff getting these days? I would have figured that at least one shop would still have a good assortment of older parts in stock, but I guess those days are over?

What is currently on the Nishiki?

Buying parts piece meal, or a group on ebay, is rarely the cost effective approach. Usually, the cheapest route is to find a complete bike with the parts you want, then swap them and resell the bike. For instance, I bought a tricolor 600 bike on ebay for $200, stripped the bike and recouped over my investment on the components alone (I just wanted the frameset).

Also, I avoid NOS completely. It usually sells for a 2X premium, if not more (sometimes a lot more). Its not like the bike is brand new. Often, you can find a 20 year old bike (or older) used at an attractive price, that has been ridden very little. Although the the parts are not NOS, they are very lightly used.

I have bought a lot of components over the years, and I have yet to have bought a single one from a shop, and 99% of the components I buy come in the form of a complete bike.

As pointed out in a private discussion with another member, a few things don't usually come from complete bikes: saddles, pedals, and consumables (cables, housings, bar tape, chains). Neglected/ignored bikes often have torn saddles, and bad pedals. But components such as derailleurs, shift levers, wheelsets, cranks, bb, headset, stem, handlebars and seat posts, usually come from complete bikes

I think I have a spare #600 rear derailleur, if interested. NO, it won't cost you near that much either ! PM me if you want to.

What is currently on the Nishiki?

Nothing, its a bare frame and fork.

Buying parts piece meal, or a group on ebay, is rarely the cost effective approach. Usually, the cheapest route is to find a complete bike with the parts you want, then swap them and resell the bike. For instance, I bought a tricolor 600 bike on ebay for $200, stripped the bike and recouped over my investment on the components alone (I just wanted the frameset).

Also, I avoid NOS completely. It usually sells for a 2X premium, if not more (sometimes a lot more). Its not like the bike is brand new. Often, you can find a 20 year old bike (or older) used at an attractive price, that has been ridden very little. Although the the parts are not NOS, they are very lightly used.

I have bought a lot of components over the years, and I have yet to have bought a single one from a shop, and 99% of the components I buy come in the form of a complete bike.

As pointed out in a private discussion with another member, a few things don't usually come from complete bikes: saddles, pedals, and consumables (cables, housings, bar tape, chains). Neglected/ignored bikes often have torn saddles, and bad pedals. But components such as derailleurs, shift levers, wheelsets, cranks, bb, headset, stem, handlebars and seat posts, usually come from complete bikes

Buying used if fine but you rarely find a complete group on most original bikes and finding period correct parts in perfect condition is even harder. Not to mention a while bike will cost far more in shipping than does just a set of components. What are the chances of finding a complete perfect set of 600 Arabesque components without any rub marks, crash damage or other defects? Let alone finding a set that's not worn out or at least worn to the point I don't want it. New is the only way to go. I'm not against new take offs if they're not all shelf worn over the years either. The frame set is super nice, it needs a super nice set of components to go with it. I can't see using old, greasy, or scratched parts on a nice frame. I have used stuff all over the place, but it's just that, used. I've got ten used 600 rear derailleurs, every one has either a scratch or gouge from being laid down or has chain wear on the cage from being ridden out of adjustment. I've got two crank arms too, but the date codes don't match the finish therefore isn't the same. One looks more polished than does the other. One is an FD, the other an FA date code. Apparently the changed the finish on these things in the first few years.
When I'm done with this bike I want it to look new, never ridden with no defects.

I see that the eBay sale went off with no bids, I emailed the seller to see if he wanted to sell for less but he declined, saying that he'll just keep them rather than give them away for less.
Half of me don't blame him, but the other half wants a deal on some new parts. I kick myself for not buying up more of this stuff when it was new and cheap, of course back then, the same group was about $130, which seemed a whole lot more expensive then it does now. I guess with inflation those parts are cheaper today then they were back then but its still just as much of a chunk out of a paycheck as it was back then.
I've got a buddy that keeps telling me that I should just junk the old bikes and buy new, which no doubt would be cheaper these days, I could buy a new Fuji road bike for far less than I can fix up an old one to 'like new' condition, but the old one isn't made in China, it's made of steel, and it won't lose 75% of it's value the minute I ride it the first mile or two.

I've got ten used 600 rear derailleurs, every one has either a scratch or gouge from being laid down or has chain wear on the cage from being ridden out of adjustment.

Of these 10 rear derailleurs that you have, do you have any long cage versions that you're willing to part with? I bought a 600 Arabesque derailleur and shifter set from ebay last week, but I realized after I got it that it won't work with my compact crankset. I don't mind scratches or gouges, as long as they work.

Keep an eye out for a old SR bike. I picked up one with SHIMANO 600 ARABESQUE group. Only the SR didnt come with the cranks or stems or atleast this one didnt. Nice lugs bit I was after the SHIMANO 600 ARABESQUE. It also had Dura Ace able clamps, Christophe toeclips, nice alloy wheels with Shimano hubs.

The hardest items to find in that group are long cage rear derailleurs, cranksets, and headsets. There doesn't seem to be any shortage of the short cage rear derailleurs or any front derailleurs, and chains and freewheels seem common on eBay. Not many dealers stocked new complete crank sets. The headsets were alloy and used a special wrench set so they tended to get beat up when people used pliers or plain wrenches on them. Finding them in good shape or new is tough.

Buying parts piece meal, or a group on ebay, is rarely the cost effective approach.

I disagree with respect to piecemeal. The kicker is one has to be PATIENT and snipe good deals as they come along.

I have an '87 TREK 560 w/600EX. Everything is great except the downtube indexed shifter, poor design. I went through 3 before I said screw it and bought a later generation 7-speed RX100 shifters and bought a new 7 speed freewheel. SHifts better now, and durable. You may want to consider that. The first generation 600EX shifters were sketchy at best.

Buying used if fine but you rarely find a complete group on most original bikes and finding period correct parts in perfect condition is even harder. I recently lucked out. I picked up a bike that has the "Arabesque" 600 group in "as new" condition, since the bike has never been ridden. You don't see them everyday, but this stuff does show up every now and then. I stuck the bike in the office as "art" to be appreciated right now.

The first generation 600 EX shifters were back around 1978 and were friction only. Your referring to the 6208 group, which was the first 600EX with index shifting. From experience, they only worked if you had matching components with Shimano's indexing cables and housing. It was super sensitive and hard to get right.
The series right before that was the 6207 groupo, which was the last friction shifted group at the 600 level.