DRF aka Thrifty Bill
Join Date: Jan 2008
Location: The NC Mountains
Bikes: 86 Katakura Silk, 87 Prologue, 87 Cimarron, 14 frame school custom, 73 Paramount
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Who is going to do the service on this bike to make it rideable? That will likely blow your budget.
Condition? Needs a lot of cleanup, and a full service: tires, bearings, cables, housings, new saddle, perhaps a new chain and freewheel.
Local pickup only is a good strategy to finding deals. I would keep looking. I've scored some local pickup only bikes, typically priced quite a bit lower, or bikes that were a lot better than this one. Newb sellers don't realize if they are going to do a local pickup only deal, they are better off using Craigs List.
Finding anything decent in your budget range is extremely difficult. I find bikes for less than $150 all the time. But every single one of them needed full service (we are not talking about a tuneup!), cables, bearings, tires, chain, etc. Typical "deals" are bikes that have been neglected for many years, or even decades. Unfortunately, unless you have the time/tools/aptitude/knowledge/access to parts/space/interest in doing such a rehab, you will quickly be upside down value wise (a full rehab around here can cost $200 to $250 at a bike shop).
Your other choice is to look at mountain bikes. Rigid frame MTBs from the late 1980s to mid 1990s are a bargain out there, they are well built, and cheap.
Here, decent, ready to ride, fully refurbished vintage road bikes start at about $200, and go up from there. You are in a pricier market than where I live, so adjust it up somewhat. This Motobecane is a really basic, low end bike.
Now finding deals on bikes is a lot of work, takes a lot of time, and you have to pounce when you see a deal, as there are plenty of other bike savvy people in just about every market out there, watching for deals.
Last edited by wrk101; 09-08-11 at 05:21 AM.