It's only $30.
- And it looks like a very clean Peugeot U08 the picture.
- Around here, I'd resell it for $120 (after a thorough overhaul, new tape, tires, etc).
If you intend to ride it, you could do worse than a U08 when it comes to a nice entry level bike - but you have to be ready to do the work yourself, or it gets too expensive.
Figure on a new wheel set also, if you intend to make it your rider, because of the poor braking and the extra weight associated with steel wheels.