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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Based on the parts, its pretty close to entry level. Whether to restore, and how far to go, is a personal decision. If you are thritfy, and willing to do the work yourself, you can probably get that bike into good rideable condition for $30 to $50. As an investment, restoring that bike will not have a great return. But as a keeper, for not much more money, you can have a nice vintage ride.
I am myself going ahead with a restoration of an old Raleigh folder. It will not be worth much when I am done, so I am going to be careful on the spending, and I plan to keep the bike. If I was just planning to sell it, I would do better selling it as is. The cost to restore, even when I am careful on the spending, will be pretty close to its finished value.