Broom Wagon Fodder
Join Date: Jul 2006
Bikes: Fuji Supreme; Kona Wo; Nashbar road frame custom build; Schwinn Varsity; Nishiki International; Schwinn Premis, Falcon Merckx
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There's two kinds of "fixing up" -- fixing it up nice to ride where people remark on how nice it looks, and then there's making it showroom fresh with hang tags and everything. This bike is a lower end Fuji with a mild steel frame. Better Fuji's have lighter frames made out of VaLite or Crome-Moly tubing. That said, Fuji didn't really make any bad bikes in that era and the components are decent ones. The only down-side to that bike over high end models is a few pounds and maybe cheaper wheels.
I think you can clean this bike up, freshen up the bearings, tires, brake pads, bar tape, etc. and have a bike that rides nice and looks good. It will never be worth a ton of money. Only the high end bikes like a Paramount or a Raleigh Professional have that going for them. But if you look around the board, you'll find that alot of us (if not most of us) are riding mid-range bikes from the 70's and 80's.
I wouldn't start buying NOS (new old stock) derailleurs, having parts chromed, or sourcing decals and paint for this bike. I'd clean it up, take care not to damage the decals, and ride it. And then I'd post some pictures of it here so we can appreciate it!