Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - Miyata 310 for $450? Deal or no deal?

Hi, everyone. New to the forum. I had my bike stolen in SF last week and am looking to replace it. I came across this CL posting for a pristine 310. Not sure of the exact year. Seller is asking $450 for it. Judging by the pics, it's gotta be near mint with some new parts (tires, tubing, cables, housing).

http://sfbay.craigslist.org/sfc/bik/2471006142.html

Is this a fair price? I know these things retailed for probably around or less than $400 brand new, right?

I'm going to look at it this evening, in about four hours or so. Would love to get some insight into whether this is a fair price for the bike. I really like the look but want a fair deal too.

Thanks in advance for your help.

Ryan

Just wanted to add that this is the San Francisco market.

Thanks.

In my area, that's a $150-$200 bike, even in pristine condition. SF is obviously a hotter market, but $200 seems like a steep markup to me. You have to decide what a fair SF markup is. It's not a bad bike, but it's lower mid-range in the model lineup. Judging by the ad, I doubt the seller will negotiate down much, but it's worth a try. It does look like it was fully refurbished, which is worth a $100+ at a bike shop, so factor that in. Of course, only you can be the judge on how well the job was done. Ask if all the bearings (headset, hubs, and bottom bracket) were regreased and the bearing balls replaced with new ones. I can tell you the tires are basement bargain Cheng Shin or similar. Looks like the quick release is open on the front brake. Properly adjusted, it should be closed and not rub on the rim when the wheels is spun.

By the way, I'd say the height range for that frame should be 5'10" to 6'0", but a lot depends on your specific body dimensions.

Insane price in any market.

That's a $250 bike where I live. $450 would get you a Miyata 916 with 8 speed brifters. What is up with the Bay area? I should sell there.

Thanks for the insight, guys. I had a feeling it was too high. I just wanted to make sure I wasn't missing something. I'm going to check it out tonight. I won't pay full price.

FYI: These were recently posted too.

http://sfbay.craigslist.org/pen/bik/2483307073.html
http://sfbay.craigslist.org/scz/bik/2476063855.html

The 615 is the best deal of the three, and not a bad price regardless. The other two are both way over priced. That 615 will probably not last very long.

UPDATE: I went and looked at the 310 last night. The guy was super cool and refurbs bikes as a hobby. He did an amazing job with this one. Looks like it had never been ridden. In the end, I didn't pull the trigger. It was a bit too shiny and flawless for my tasted. Plus, that bike is screaming to get stolen in SF.

With regard to the SF market, it's so outrageous right now, especially for any nice looking vintage bike. I'm heading out to look at a Centurion Lemans 12 in good cosmetic condition priced at $325.

http://sfbay.craigslist.org/sfc/bik/2489298317.html

The 615 is still by far the best deal.

And I thought prices were outrageous in Oregon.....yeesh.

Looks like the 615 is still available. I'd go for it. I agree with Bill, this one is fairly priced, looks to be in great condition and may need minor tuning and greasing.
The wheels are nice too, I like that model of Mavic.

With prices that high in your market... I would consider ebay or buying a bike from a Bike Forum member and paying for shipping you might be able to get a better deal that way. But you will have to know what you want and be able to ask the right questions to determin if the bike is in good shape and the right one for you.