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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Yes, you blew it unfortunately. You will probably end up finding an even better deal later, so don't worry about it. For $100 or $125, plenty of room to rehab and still make a great flipper out of it. Nothing on your "needs fixed" list sounds difficult or costly. I would run back and try to pick it up!!!
My best flips this year have been touring bikes (nine of them, three were Treks), and I paid over your price above for each one of them.
Two similar Trek 520s just sold on ebay for $450 plus shipping. (That price level sounds way over the top to me, I certainly have not gotten that kind of pricing out of them). One was a fully rehabbed 1984. The other one was pretty dirty and had True Temper tubing (a step down). But it also had barcons and indexed shifting.
Any of the good vintage steel touring bikes have pretty good value, including the Trek 520. Polishing compound works wonders on faded paint. The cantis are a big plus, the 1983 came with side pull calipers. The 1984 came in a color called "taupe", it almost looks like cammo color to me. Needs some contrast to show it off.
The bike had a pretty decent frame, Reynolds 501 main tubes doubled butted, Tange 2001 mangalloy stays and fork.
+1 Contrasting bar tape can really make a bike pop.
This is the 1984 I had earlier this year. Too big for me, so it moved on to another home.
Last edited by wrk101; 10-25-09 at 01:47 PM.