Looking at a used bike.
 

While perusing the bikes that are way out of my price range, I saw a bike they had on consignment at the local bike shop, Highlander Cycling Imports. It was an old Fuji 10 speed with the biggest steel frame possible and 36 spoke wheels for $150. I can tell the frame is steel (the owner had a magnet handy). I do not know just how old the bike is. What I could see is that it has a lot of parts that look familiar from my cycling experiences 25 years ago. The Fuji nameplate on the front of the head tube is riveted on, not a decal. It really looks like a truly vintage piece. The owner says they tune up the bikes they sell on consignment. The only changes from an old school road bike ore the straight handlebar.

I'm a pretty big guy, and this is a pretty big bike.

Question is this: Is this as good a deal as I think it is?

Without a picture, how can we tell? With a picture, you might find better advice in the classic and vintage forum.

If it is in good running order, and it fits you, you aren't being cheated.
On the other hand... if it needs new tires, chain, handlebar grips/wrap, cable and housing, etc. then you are not getting that great of a deal.

Of course it all depends on the market, too. I can't speak for your area... check your local Craigslist and get some prices on comparables.

Early 80's it seems. went had a test ride of about a quarter mile, after showing the bike to my wife.
I think it is pretty cool. I am way not used to shifting gears. For that I'm not used to riding at all.

And the shop tunes the bike before letting out of the door, which would cost about half what the bike costs otherwise. The only mechanical issue I could detect on the ride was a buzzing from the front fender occasionally brushing the tire.

$150 isn't a lot of money anymore. Many people blow through that in a night at the clubs and all they get for it is a hangover.
Talk to the LBS guys about bike fit and ask them if the bike is basically a good fit for you. If the answer is yes, then go ahead and buy it. If you really catch the biking bug, you will want a different bike in 3 months. On the otherhand, you may find out you hate biking. In either case, you sell the Fuji... So buy the bike, and get outside to enjoy some of this beautiful weather.

If it is a road bike, I would ask if they would or could replace the straight bars with some bars with drops. Like others said ask about the fit. The fit needs to be somewhat in your range or you will never be comfortable on the bike.

I don't like spending $150 for an old bike but that price is probably as good of a price that you will find without taking a year or more and looking for the best deal in town.

I am thinking that once you get the bike and start riding it that you will be all smiles and glad that you have a bike to ride and exercise on. The bike may have 27" wheels and these are hard to find in 1" or less width but are readily available in 1 1/4" widths which work great for heavy riders. Also the 36 spoke wheels will help with a heavy rider.

So get it and ride it. If you decide you don't like it flip it and maybe you can make a few bucks.

There are plenty of great tires in 27" x 1 1/4 (or 1 1/8), and for reasonable prices. Also, you can still get good 27" rims.
With that said, one of the better upgrades on a nice old steel bike (particularly if it has steel wheels) is a new brake/wheel combo. Switch to some nice dual-pivot calipers and a good 700c wheel, and it's like a whole new bike, IMHO.

As I said on the general discussions forum, I got it!
http://i1192.photobucket.com/albums/...hugosh/002.jpg

Pretty, isn't she!

No.

Nice! Quite good looking.

I would switch it back to drops if she were mine, though. I particularly like nice wide Velo Orange Rando bars on a sweet old steel bike. Unbeatable comfort.

Yes she is. Bikes are like cars too, right?...in terms of people liking them or not. I think she's very pretty and would keep the handle bar as it, however I'm a town and country type of bike guy.

If the bike needed nothing, then $150 is a good price. Even if it needed some dough put into it, if you like it, do it. You're not saving up for your future, you're getting a bike you like to look at and like to ride.

If you ride it. Yes

I figure that tons of people will pay $150 for a department store BSO. If you don't think this Fuji is better than one of those, I'd suggest you were nuts.

I just got back from about three and a half miles on the Fuji, and it did quite well. I just rode around the neighborhood the longest way I could without hitting too many of the cul de sacs. May not seem like a lot to the centurions out there, but it is further than I have done in ten or twenty years.

Looks like you got a nice ride for one heckuva price!