armstrong101

Just curious about what people's thoughts are on this.

I think most will agree that at some point in the last 20 years, there was an "ebb" in interest in steel frames (likely due to the introduction and subsequent prevalence of aluminium and carbon frames). We are now past that ebb, so steel bikes have increased in value since that low point.

Where on the graph are we now? Some people are bearish and others are bullish on where prices are going to head.

wrk101

Depends on your location. Certain locations (example: Toronto) prices are approaching the silly high level.

Much like I saw when I first started buying antique furniture 35 years ago, there was a period of time where the vintage/antique stuff was a compelling bargain. Buy a new particle board crappy table and chairs for $400, or buy a solid wood antique piece for $150. Over time, antique prices definitely firmed up, the gap eventually closed.

Vintage bikes in my area are still a compelling bargain. A bottom of the line new LBS road bike starts at $800, whereas for $200 to $300 you get something that was middle of the product line, or better from the 1980s. The gap has definitely closed up some. At one point, $50 could get you the same vintage bike.

And if you want modern drivetrain, if you are resourceful, you can still convert a nice vintage road bike to a modern STI drivetrain (used of course) for a lot less than the bottom new road bike.

I have always used the price of a new entry level racing bike at the LBS as my max spend limit on a bike. Otherwise, I would be prone to go a little crazy. It has taken some aggressive shopping to keep within this constraint. Really only two bikes I have owned even came close.

In my market, vintage bikes win on several criteria:

1. Value for the $$. Your money goes pretty far on a nice, higher end vintage bike.

2. Lugged steel frame. Just about gone now.

3. Unique differentiable styling and construction. On vintage bikes, the difference between a Trek and a Fuji for example was obvious from 50 feet away. Now, other than the graphics, I can't tell the difference. Most brands have lost their way, moving their production to China where the same factory cranks out many brands.


As far as where prices are going to go, I have no idea. Certainly the decline in the "hipster steel bike FG conversion market" has hurt the lower end around here. My own experience with antique furniture, other than the super rare stuff, prices peaked long ago and are on a decline. Could certainly happen with bikes too, particularly the common ones.

treebound 

There are three basic markets (maybe four) in my opinion:

1. Collectors, those who are looking for something specific or something that will fit into their parameters.

2. People looking for something to ride.

3. People looking for parts.

4. People looking for something from their younger days.

#2 & #3 are looking for something cheap for the most part, and as long as it is functional or has what they need or want then beyond that they don't care much as long as it fits their looking price.

#1 is usually tuned into the market and cycling networks or their collector networks and while they will try to save a buck they will also pay a fair price if that is what it takes to get what they want.

#4 is mostly emotional and the price they are willing to pay is undefinable for the most part, but figure they are looking for cheap but will pay more if the bike in questions matches exactly what they had or wanted years ago.

Category #2 also looks at components and often will want the current style of stuff (ie: brifters and disc brakes) so anything with downtube or barend shifters will generally be ignored.

All my opinion and observations and probably way off base as far as accuracy goes.

I will say that the fixie funkifiers who drove prices a little in the past seem to have been replaced to some extent by urban cyclists looking for utility and commuter bikes.

YMMV

bikemig 

Vintage touring bikes aren't cheap. Vintage mtbs tend to be fairly inexpensive but they're going up in price as well.

The supply of old bikes obviously shrinks over time and demand obviously fluctuates but I think the general trend line is up.

Not entirely convinced though that this will lead to prices going up much. Certainly in mid sized cities, high dollar vintage bikes (say north of $300) tend to rot on CL.

randyjawa 

Vintage bicycles can be had for next to nothing if you know How To Find Vintage Bicycles. Even though I no longer hunt, I get bikes all the time, this eighties something Marinoni, being the most recent, picked up two days ago for less than the $ of a small box of beer...



But you have to know what you are looking for, so spend some time learning about Vintage Bicycle Quality. You have to move very quickly to take advantage of good deals on craigslist, and the like.

When you do go to look at a bicycle, make sure you have cash with you. As the saying goes, money talks and, as often as not, talks the original owner out of his cherished and even not so cherished old road bicycle.

crank_addict

Many factors, but in regards to vintage BMX and early gen mountain bikes, those two category's are strong. Yet in a way, there's hundreds of thousands of them forgotten about in sheds, attic's, etc.. Its definitely possible to buy a $30 garage sale bike and it could fetch $500+ on fleabay. I know a few fellows stacked and trade this stuff. Crazy money for some pieces.

For lightweights, might initially evaluate by the era or decade.

Always super bargains but of course depends. Just read thru some of these forums of others scores. Also, I don't agree its about the territory. So what if you have to pop a bit for shipping (within reasonable rates)? Then there's forum fellows who sell completely done bikes for well under ebay or CL typical listings. Doesn't get much better than that. Look thru the past sale postings and you'll see some terrific bikes attractively priced.

When I get the occasional chance to check out a Goodwill, or even online, mid-grade 60'-80's are in the $50 to $200 range. I automatically consider a full service is needed. Time is money at a shop, so you don't want to go there with one of these bikes. All DIY or forget it.

The other is finding scratched up classic 70's- 80's lugged, high-end Italian frames. By far I think they're the best deals going right now. Crazy cheap. $50 to $250 everyday. Could you imagine the price today if wanting something similar made? Even if you don't relish the collectors point of view and leave it original. Go ahead and repaint it, build it however you wish. One can have a super ride complete with update components, refinished for under $1000.

Other examples for myself last year. A few French bikes- Moto's specifically.
A late 70's Grand Sprint, $35 initial investment, no shipping involved. Top to bottom rehab, budget repaint, upgrade to vintage Campy NR, plus Campy S.Record hubs, laced w/ tubular hoops, new Conti's, cables, pads, Brooks all for $250 done. Sure I could put more into it, but the fun is the challenge to complete with a budget. Its something different, looks fresh but doubt its worth more than my cost. Labor, if considered monetarily, thats a big loss.

The other was a $100 '72 LeChampion but was rather pricey getting shipped in. A bit rough looking yet came with Campy NR, Stronglight, Mafac's, Phil sealed bb. Regardless, a top to bottom rehab, added a new B17, fresh rubber, cables, shipping- probably have $300-325 all in. Now looks presentable and I'm really enjoying it.

Though I think whats getting to be more of a challenge and pricey are the early 60's and prior. Especially if seeking period components. I think if one finds a decent mid-grade original for less than $500 is a good start and well worth acquiring if complete. Plenty of really super cool higher-end bikes are in the $1000-2000 range. Those are solid buys that I suppose one could enjoy and later re-sell without much fuss or loss. So in a way, thats a bargain.

Funny too as some avid cyclist will see my old bikes as cool but just another outdated junker. They have no clue of value, but if I talk carbon or HED wheels, oh do they get excited. A few have gone out of the way to mention of some old bike a family member or other has. With a cordial understanding, if genuine appreciation for the old bike is what seller sees from a buyer, its more important than the sale amount. Nothing to do with a fair market value.

jon c. 

Personally, I think they're still good value. You can buy a very nice vintage bike and put it in excellent working condition for well under a grand and it will be a much better machine than any recent model you can buy for the same money.

gugie 

You are correct in that vintage bikes are going up in price. Certain bikes command very high premiums. Right now I'm looking for 2nd tier bikes. For example, early 70's Raleigh Competitions are hard to find at any price, but go a few years later and you can still find Competition GS for a "reasonable" price.

Now, if and when Peter Weigle starts reconstructing GS bikes and showing them at Cirque du Cyclisme, those will skyrocket as well.

Chombi

Compared to modern bikes, C&V bikes are dirt cheap in comparison. For the price of what a mid-line modern race bike would be today, I think you can find/buy a top model C&V racer.....plus C&V are prettier too, IMO..... so it's mostly a win-win for us!

ramzilla

I think vintage bike prices fluctuate with the weather. I seem to find my best deals here around Atlanta during winter. It also seems like more people know exactly what they have & how much to ask for it. I guess we can blame the internet for that.

Velognome 

Yes, still cheap, I tell my wife this constantly

repechage

Before online sales, auctions, the market definitely was imperfect to the benefit of the buyer.
Prices took a hit during the "great" recession, quality is rebounding faster and in some cases extending.

The comparison to what is available in the new market and its price is true. There is more to it than that, as seen in the few models that are of "traditional" construction.

repechage

6-8 years ago, I could buy Campagnolo NOS Superleggeri pedals in the box for under $100 to my door, today they are transacting for $225 or more regularly.
No more NOS pedals for me.

iab

Compared to other vintage modes of transportation, cheap like dirt.

rando_couche

So I was just looking at a steel Merckx on ebay. It's my size (BIG!), my color (BLUE!) and in very nice condition. Seller's asking $500+ for it, frame and fork. I was thinking that's an awful lot for that, but then again... a Soma Grand Randonneur f/f is just under $500 and nowhere near the frame that the Merckx is. And to have a KOF builder make me a "replica" of the Merckx would be about two grand at least. So yeah, vintage bikes are still cheap, IMO.

SP
OC, OR

FrenchFit 

Dirt cheap until you start tweaking and blinging them up to your preferences. Everytime I ride one of my Miyata or Univega down to Rivendell my inner child just smiles.

Then again, I saw a pop in the market a few years ago when prices seemed crazy, then it cooled off for complete bikes. I theorize there were many owners, like myself, that went n-1, are dumping bikes on the market/thinning their herds. Big supply. I don't think what's showing up at good prices are the best bikes, they're more the bikes on the margin; won't be missed when they're gone. Great bikes command a premium.

MZilliox

I think parts, especially NOS are quite expensive for what they are. But full bikes, there are still many deals to be had. Certain Markets are harder than others, but away from major cities has some benefits and negatives.

iab

Then again, a headbadge that could sell for four figures is spendy.

Giotto Cinelli Frame Headbadge | eBay

Fahrenheit531 

If we look at vintage bicycles' cost relative to function (as mode of transport and/or means of entertainment), they're cheap as dirt. And that's good enough for me.

EDIT: One thing I know from experience is they're a heckofa lot cheaper than guitars.

Darth Lefty 

I think mid grade racing bikes of the sort that are advertised around here for $300 are a great value. Moving into the late 90s and brifters it really depends a lot on condition of the indexing. I have the impression that a lot of 7 and 8 speed brifters were rare enough during the MTB era and haven't lasted since.

The Golden Boy 

Yeah... makes you wish for the old days. I just found the receipt for my first Les Paul. It was a 75 Deluxe that I got in Sept of 1991. I got bent over at $500. Try finding a clean 75 LP Deluxe for $500 these days... ha!

3alarmer 

.
...compared to hookers and blow, old bikes are a bargain. I'm near the SF bay area, and some of the older stuff on CL has been moving North of reasonable, but I'm not sure it sells. At my age, I get more use out of the bikes than I would out of the hookers and blow anyway.

Dave Cutter

I agree with both the bears and the bulls.

Prices will fluctuate... but as the older cyclists that have a true passion for the old steel die off... prices will fall. Fine examples of the old world-class bicycles will always have a following and will continue to gain in value. But the old steel that only hold sentimental value to old geezers.... have no true value to retain.

CliffordK

I agree that there are a lot of good deals out there, obviously diluted with Huffies and Schwinns. But perhaps those old behemoths help drive the prices down of the few gems that show up.

Yes and no.
I'm not too picky about "originality"... as I just like to ride my bike. It will probably get torn down for a complete restoration soon though. I've been procrastinating on that, but my "ONE BIKE" has now been largely replaced by several, so I have some time to tinker on the old one.

One might choke at paying $100 for a Nuovo Record rear derailleur.
But, try pricing out a new 11s Super Record RD, and you'll be convinced that the Nuovo Record is a real bargain.

Of course, with the limitations of the older technology. And, that is where the old stuff seems to be expensive.

Jeff Wills

No. I realize this is optimistic despite the bike's condition, but... holy cow:

Schwinn 10 Speed