I have been getting cheap bikes quite a bit lately. Neighbors are starting to ask if I am starting a bike shop.
I pick up my bikes from yard sales, thrift shops, and dumpsters. The most I have paid so far is 10 bucks for a bike.
My latest project has been a 10 dollar bike. Chro-moly frame, Shimano Altus gear and decent wheels. I have replaced the rear derailer (got a lot of 9 derailers off Ebay for 15 dollars delivered), new cables (20 bucks) and had to replace 2 spokes on the rear wheel (one buck). Repacked the bearings, lubed the gears and chain as well. Hardest part has been truing the wheels. They both had some wobble in them and it took some time to get them reasonably straight.
The handle bar was bent a little, so I replaced it with one off a dumpster bike. Think I will replace the seat with one off a junk bike as well.
Been a great learning experience and I have a decent bike for commuting as a bonus.
So, for under 40 bucks I have a nice bike that would have cost me well over 250 new. Sure beats the old huffy I was commuting with.
We are also going to have a yard sale this weekend and I should be able to sell some of the other bikes I have picked up to make a little money off the whole deal.