RobbieTunes

Found in an area barn. Hanging out of the rain, but basically in the open.

1-Motobecane Grand Touring. Appears to have Suntour V-GT stuff, 60cm, frame is in good shape, decals fine. Tires shot, tubes shot, wrap shot, saddle shot. Rims are alloy 27's, half-chrome forks. No rust. Pedals are toe clips, look like MKS, leather-covered clips. Center pull Weinmanns.

2-Raleight Competition. 60cm, Suntour Cylcone MII, aero wheels, frame/fork are excellent, toe clip pedals, again, MKS. Tires, tubes, wrap, saddle are shot. Plastic parts on the stem shifters are shot. DC aero SC calipers and levers.

Both are hanging upside down. I called the guy 2 years ago and offered $75/bike. He asked for $300 each. I went back and looked today. Figure I could make each pretty nice for about $100 each.

Trying to figure out a fair price and how to approach him with the facts. Maybe he'll come around.

rothenfield1

You know the price of bikes in your area better then I. But, even in my high-priced area, if someone put one of those up for sale after hanging in a barn for over 2 years without doing anything else to them; they'd be lucky to get 150-200. It would take a C&Ver to see the value. Even if you talked him down to half his asking price, plus your cost would put them at 250 each. They are both valued bikes and if I saw one here in that condition I would probably jump on it for 150-200. Maybe he's old-school. Do you own any cows you could trade him?

RobbieTunes

I think he just collects stuff. He's got old signs, a pontoon boat, an old camper, etc just sitting around. Looks like he doesn't often move them to mow....

What's odd, he has these two bikes hanging under a tin shed roof, upside down. There are snake sheddings on them, bird droppings, etc. But, 15' away, inside much better protection, he has about 8 WalMart bikes hanging up, completely protected from the elements.

The bikes are at the point where, another year, they'll take twice as much work and money to fix up. I tried, 2 years ago, to tell him they'd someday be worth what he thinks, but only AFTER someone else put in a fair amount of labor, $100 minimum (each) in parts, and a complete overhaul of anything that needs grease. He told me he checked the internet a lot; they were easily worth $300 to a collector.

Well, it's been 2 years, I may knock on his door and see if he's thought about it.

I think the Raleigh could be worth $400 with a honey Brooks saddle/wrap, brown housings, some sand-colored gumwalls, then about 16 hours on the frame and components. Figure $75 to buy and $200 (minimum) in parts.

I think the Motobecane, same type of renewals, maybe $350 for tourers, as it's definitely attractive, but lacks the racks it deserves. Figure $75 to buy and the same in parts, sans racks.

The trick is to find a way to convice him I'm more into the work and the turnaround of the bike than the money.
If these are like about 2/3 of my builds for sale, I may make $50 per bike.

rothenfield1

How crotchety is he? If he collects stuff, he's got to have enough sense to know that even value stuff doesn't appreciate in value if it's left to rot. Maybe if you can gain his trust, you can offer to share the profit with him with the understanding that you know how to restore the bikes to their top market value. Make sure you wear your overalls and a jug of moonshine couldn't hurt. Do you have any daughters that you could marry-off?

auchencrow

Does the Grand Touring look something like this? I don't think it is close to $350 even all fixed up. I would guess more like $225. - And in the condition you described, maybe $100 assuming the frame is as clean as you say.



Regarding the Raleigh - I am not an expert in Competitions, but I know the earlier Carlton ones with TA cranks and Jubile DRs are most desirable /collectible - and what you described sounds like a much later, or completely bastardized example. (Aero wheels sure don't help collector's value on a Competition). Without seeing it though, I can't guess the value, other than to say that you do risk having the refurb costs stacking up to more than what you could just buy one for, ready to roll from eBay. Wheels are the most expensive thing to replace!

I might offer the guy $200 for both, and would not feel that I was missing much if he said no.

wrk101

Too many people watch American Pickers and Pawn Stars anymore, and think their old crap is priceless. When I have been successful in cases like this, I have usually made a package deal (find other stuff with some value, and offer the guy an attractive number). If you could find a few more items of interest, and could offer him $300 or more, it might get him off the dime. I have also sometimes taken some real garbage (and "agreed" it was something nice) to get the real item that was nice. And the junkier stuff went straight to a recycle bin, or a thrift store, on the way home.

Actually, lots of positives in your descriptions: good to really good paint, no rust, good chrome, good decals. The other stuff is usually an "easy" fix, and can be done pretty cheaply if you manage parts spend carefully. I can't remember ever putting $100 into parts into a single bike (except for keepers). $25 to $30 should get that Motobecane list done (OK, I keep a stash of take off saddles, typically found at garage sales and thrift stores in the $1 to $3 max range). Add Niagara tires (under $6 each), Pricepoint tubes ($2), $4 bar tape, 75 cent cables, 2 cents each for bearings.

Next to acquiring bikes at an attractive price, managing parts spending can make a huge difference in the final margin.

rothenfield1

Update please. This is getting frustrating. If it comes to it, I know some peeps in Virginia with thick arms. Just saying.

RobbieTunes

I made another trip there, walked back to them with him.
He's convinced they're worth $1000 re-done.
I asked if he had any proof of that, and he said "the internet."
I didn't push it. Maybe there's a site for stuff that will never sell.
I simply told him that the bikes can be turned around cheaply with low-quality stuff for $100 each.
I then told him that the bikes can be torn down, cleaned, polished, restored with LKQ parts for $200 each.
After which, they may be worth $350-$400, on a good day where people are flush with cash.

I'm convinced they'll hang there for many a year to come.

We've all met the kind-the moment you show interest, they think they have a live one on the hook.
I doubt it's actually occurred to him that someone who comes to his house, twice, with facts, may actually not be a rube.

Oh, well. I go by there about 1-2x a month. I'll perservere and see what comes of it.

My guess is they'll eventually die a slow death or get stolen.

Bianchigirll 

I bet he is waiting for Mike and Frank to come along.

if the bikes have been hanging out of sight for two years he is crazy to turn down any offer on them

jet sanchEz

I've met guys like this before, it is an exercise in futility. My time (and yours) is better spent scouring eBay or CL for a mis-listed item than dealing with these starry-eyed folks.

BigPolishJimmy

Someday someone will get them at the estate sale.

Phil_gretz

Frustrating... maybe he's a hoarder with issues about loss... maybe bring him some beer, sit down and just chat. If he wants to bring up the bikes, he will. If not, maybe he just needs human contact. PG

tugrul

Give him a pre-paid post card and tell him to mail it back to you when he finds the sucker.

septacycles

Just sounds like he doesn't want to sell them for what ever reason... the internet is a dangerous thing. Did you make him your highest and best offer... if you did... I would waster you time... there are lots of bikes out there. You'll find a good deal somewhere else.

+1 on the Estate sale...

RobbieTunes

Tempted to speed that process up....

EjustE

Well...
As far as these go: You are getting frames, rims and a Cyclone MII group. And 2 really big frames. And a couple of stuck stems, seat posts etc. The 60cm Competition might sell for $400 for the right person at the right time, after one spends about 10 hours rehabing it (and about $100 in parts). The Moto far less. Do the math. Buy yourself that beer and call it a day

bikingshearer 

Don't do that. Do you have any idea how much paperwork that would generate?

RobbieTunes

Done. Thanks for the advice.

rothenfield1

OK. This dude is getting tiresome. Time to call out the whip-ass bike police. Just PM me the address. ‘Nough said. Cost? Don’t worry about it. They work for animal crackers.