So I went to a bike auction, and ended up buying two bikes:

Bianchi Nyala: $110

Schwinn Range: $62

No pictures yet, but they seem in fine condition.

I'm not a flipper, but I figure I'll have to sell at least one bike to keep my wife happy.

My current bikes:

A Shogun 600, now with front and rear racks, lights, fenders.

A Free Spirit: One of the Reynolds 531 kind, now a fixie (but without anything filed off.

A Raleigh Grand Prix Mixte, currently set up as a five speed.

Any thoughts? Was I stupid? Which bike or bikes should I sell? I'm thinking I shouldn't lose money, at any rate, provided there aren't any hidden problems. Right now, the bike's are in a friend's garage, and I'll bring my bike with racks over later this evening and take the new bikes home.