Free Raleigh MT 500 worth fixing up?
Hi, I've recently started fixing bikes as a hobby/new passion of mine. I'm a poor 24 year old going through school so there are no glistening new road bikes or full suspension mountain bikes adorning my garage just yet.
I've goofed around lately starting with a sad little Trek 3700 I bought for $300 which I sadly never use due to my typical hard road commute.
ANYWAYS sorry for the intro, but I am the bike fixer and I have a friend who is the collector of random oddities. He recently found a rusty Raleigh MT500 lying in a garbage heap(I didn't ask any questions but it's pretty rusty... the chain was completely shot).
He let me have it for free and I was surprised to find that in 1994 this bike had a suggested retail price of $1,042.00!!! Solid Deore components and the Rock Shox Mag 10 suspension is pretty decent(for back then) It needs a new chain, seatpost, seat and the shocks need to be pumped(if they hold air)
My Question(finally) is should I invest $50 or so into this rusty bike? Is it worth trying to sell, what would it even go for these days?? Oh and there is about a 1/4 inch long crack near the bottom bracket on the left chainstay. Could I have that repaired or bondo it? lol Primitive I know.
Any suggestions would be helpful..
1.) Would it be worth fixing up and selling?
2.) If so, what kind of price estimation should I shoot for? I know it's not worth $1K
Thanks in advance!
Sorry I know it's not a great question, and the elitist mtb crowd shuns these questions. Just didn't know where else to ask. Shoot me
It might have been before the crack.
But a crack is definitely a deal breaker.
Parts might be worth something on ebay if they're still in good condition...
If nothing else you might come across another worn out old bike and between the two you can make one decent beater
Thanks for the replies guys. I actually got in contact with a neighborhood bike co-op community program that teaches people how to work on bikes and get more active and everything and one of the volunteers took the bike off my hands for $100. So hopefully the deore parts find a good home on some lucky kids bike cheers