1986 Raleigh Competition -- what is it worth?
I'm looking at purchasing a new road bike, and one I am looking at is a 1986 Raleigh Competition, Reynolds 531 frame, stamped "735" under seat post. Nice condition, no rust, dings, scratches, etc. Shimano components throughout (I believe 600) but I don't know if they are original. However, it will need new tires, which can be pricey. The guy is asking $275 and he's firm on the price.
I'm no expert about vintage bicycles, but I like the way the bike looks and it fits and rides smoothly. I expect to ride my new bike every day, commuting, and on weekend paved-trail rides. I don't want to get ripped off though! Any help is appreciated.