reidabook

Hi
My neighbour has given me the chance of this old peugeot which has been in his garage for a few years. He's asked me to 'make him an offer for it'. I've always wanted an old bike to do up but don't really know how much to offer him. It's a Reynolds 531 frame and has all original parts: mavic wheels, mafac brakes, simplex mech. It is a bit rusty in places too though as can be seen on the chrome forks. Am I right in thinking it's a late 70's PRN10? Could any body give me an idea of how much I should offer him?
Thanks

kunsunoke 

Well, value's gonna depend on the market there in Glasgow. If it's an overheated market, populated by hipster children with trust fund checks (such as is the case in Philadelphia and Brooklyn) then the bike could sell on open market for 250-300 pounds.

Based on what some other examples have gone for, you might want to offer something fair to start with - say, 150-180 pound range. It does need a few things - such as a chain, bar tape and cables, possibly a derailleur or two, so if your neighbor squeezes you for more cash you can say you want to keep some of it for the restoration process.

Whatever you do, please don't convert it to fixed gear! The world has enough of those.

The chrome on the fork should clean off nicely with some oxalic acid.

reidabook

Cheers mate and don't worry, I wouldn't convert it to a fixie.

Can you recommend any treatment after the oxalic acid to stop the rust coming back?

unterhausen

moved here since this is the correct forum.

I'm not going to do a currency conversion, but really I'd be tempted to offer something less than $100 usd. It was an expensive bike in its day, but not that great. That's one of the reasons why European bike manufacturers went out of business. However, it's a perfectly serviceable bike.

oddjob2

The bike as is needs a full cleaning and overhaul and lots of consumable parts, basically a full teardown and rebuild. In the US, a DIY effort would be $60-$75, with decent tires. A local bike shop would charge $175-$225, plus tires.

Therefore as is, I would not offer more than $150 US, but hope to get it for less.

OA is overkill for that light rust. Lightly rub with 000 steel wool and WD40. No more rust if you keep the bike dry.

oddjob2

@wrk101, have you considered opening an Oxalic Acid Spa, like @pastorbobnlnh and his Freewheel spa?

headloss 

Just a standard wax, to prevent oxygen in the air form interacting with the iron in the steel. There's probably a chrome polish or something along those lines that would work well. On the frame itself, model enamel or nail polish usually works... an acid treatment or zinc fortified paint may be necessary if it comes back.

reidabook

Thanks for all the info guys,

zukahn1 

For a French bike of it's age the chrome and paint looks very good to excellent. Some through cleaning and bit of touch up matching nail polish works good for this and quick coat of wax and you should be fine.