My friend bought what appears to be a '72 Centurion Super LeMans from a now defunct LBS for $150. It was "overhauled" by the owner (who somehow missed the ultra-stretched chain) and given new (but cheap) tires. Seems to have been lubed and it works properly - a "ready to ride" bike.
He no longer wants it and wants to sell it...
The problem is getting any kind of $$ back out of it. The frame's paint job it completely shot. It was an entry-level bike made with gas-pipe tubing (1020 hi-ten IIRC). The only thing going for it is the functional and original groupset. SunTour barcons are part of the package, but they are far from "minty fresh" (as you can see in picture #7 below.
We live in NW Montana two hours from the nearest college town where you can only begin to smell hipster in the air. Locally an '85 Centurion LeMans in good shape can't move for $150 (it has been offered multiple times this summer).
If it were my bike, I were sentimental about it and wanted to keep it, I'd have it media-blasted and powder coated. But he has no attachment to it and just wants $$ out of it. My inclination is to try and get $100 for it, or part it out on eBay (problem is I'm not a seller on eBay and only have a 100% positive purchasing record).
So what would Jesus do?