1990's Giant Iguana Bike
 

Hi this is my first post on the bike forum. I really do not know anything about bikes. However, I am doing this thing where I started with one penny and traded with people (like the red paper clip story, google it) right now I have $10.50 and someone has offered me a 1990's giant iguana bike for $5 if I give him 50% of the profits. I would like to know how much I would be able to sell this bike for if I clean it up and do some simple repairs.

Thanks for any help.

Without knowing which year or specific Iguana model it is, I'm going to take a guess that it will fetch maybe $100 if you get it to good operating condition.

But do keep in mind the cost of those repairs can inflate considerably since he doesn't know anything about bikes.

Thanks,

I am going to buy the bike tommorow. I can't spend much money on repairs(because I can only use resources generated from the original penny $5.50 after I buy the bike). Do you think I can make repairs without any prior expirience or money? I tested the gears(kind of) I lifted the back wheel and hand pedaled and shifted between four gears so there can't be anything to terribly wrong can there?

Unless you shift EVERY gear, you won't know if the shifters or derailleurs are any good. I recently bought a bike that would shift 2 out of 3 gears up front and 3 out of 9 in the back. I used to be a bike shop mechanic though, and I pulled on the derailleurs by hand to determine that the bike only needed new shifters, which I knew I could get for $30 and install in a few minutes.

Since you have $5.50, the bike better not need any parts replaced except for maybe one tube. As zeo said, the cost of parts or repairs could easily go above the value of the bike.

Thanks for that link.

I think in the worst case scenario I should be able to craigslist the bike as is for $5. Some one could use it for parts or something.

True, but you gotta decide if it's worth your time to try. Like I said, see if it shifts to ever gear - or at least determine why not - before you buy it. Best of luck!

does the guy want 50% of the profits from JUST the bike, or from everything down the road from the bike?

Well, he hasn't accepted my offer yet but he said he'd take between $5-7 because he wanted to help me out with this penny thing. So, I am going to offer $5 and 50% of the profits off just the bicycle.

So I bought the bike today for $5 without the 50% profit deal. However, now that I have it the rear gears wont shift. The front gears shift fine but the rear ones stay in fourth(or third I am not sure) gear, it won't shift up or down. Sometimes the chain will start to go up but then slips back down. What should I do?

Ask these people:
http://www.bikeforums.net/forumdispl...ycle-Mechanics

First, check the cable. Quite often, the cable housing and/or cable is torn. If that's the case, check back here with specifics (what is torn and where). Also, check to make sure the derailleur can move (move it back and forth by hand). If all that looks good, try spraying the inside of the shifter with a good dose of WD40.

I think I found the problem. I am sorry in advance for the lack of technical terms and poor explanation. When the shift lever is pressed the little tab that keeps the lever in place does not stick into the next gear level. I can get it to stick by pressing the shift lever and then pulling the smaller shift lever.

I am not sure any of that made sense but maybe someone will understand

I think that makes sense. Unfortunately, it sounds like the problem my bike had, and it means the shifter is dead. There is a slight chance you can bring them back to life with a healthy (and I mean healthy) dose of WD40 sprayed directly into the shifter.

And just to be sure, the shift levers themselves are supposed to return to their original position after every shift, but the gear will be in the newly selected gear... if they are Rapid Fire style shifters like I believe they are.

I gave the shifter a super healthy dose of WD40 and the shifter works now. The only problems I know of now are the derailer is hitting part of the wheel in the biggest gear only a little though. Also, I don't think it is shifting into the lowest gear. What would you suggest I do as a tune up before I attempt to sell or trade it?

There are two small philips screws on the back derailleur. You need to tighten one of them (hard to tell which one without being there) to keep it from hitting the chain, but not too tight as to keep it from going into the biggest gear. If you mean lowest as in the smallest rear gear, you might need to loosen the other screw. You might also need to loosen the shifter cable a little (based on it seeming to go too far in the big gear, and not wanting to go into the small one). Did I get that right?

Sounds like you're on your way to make some cash for nothing more than $5 and a little elbow grease!

Do I loosen the shifter cable at the shifter or at the derailer?

At the derailleur. The cable should be clamped by an allen bolt. You probably only need to move it 1/16".

edit: Or you could try turning the barrel adjuster on the shifter (clockwise if facing from the cable) a few twists, if it's not already all the way in.

I will try adjusting the rear derailleur and cable tomorrow. I found problem with the front gears. When I shift to the largest gear the chain goes too far and does not sit right on the gear and it rests against the guard.

Same thing with the front. You need to find out which of the two screws limits the outside and tighten it a little. These screws I'm referring are called "limit screws" because they limit how far the derailleur can move.

I have located both limit screws for the front and back. I have adjusted them but can't get it right. Here are the problems:

The front derailleur pushes the chain to far into the guard. I can get it into the gear by depressing the lever halfway.

The rear derailleur goes to far and rubs against the spoke protector thing.

The rear derailleur will not go to the very smallest gear.


If someone could tell me which way to turn which screws I would greatly appreciate it.

The screws are in a different order on different derailleurs, so the closest you'll get online is if you can post a pic of it and/or the part numbers and hope someone has a unique knowledge of them. They might be marked H and L (high and low), which can also help. Otherwise, you should see the screw start to move the derailleur back a little as you tighten it if you're turning the right one. Just count your turns in case you decide it's the wrong one and need to move it back.

Anyway, it sounds as if both cables need to be loosened just a little bit, whichever screw controls the outside front chainring needs to be tightened, and whichever screw controls the small cog in the rear needs to be loosened and the other tightened.

I suggest you poke around on http://www.parktool.com/repair/ and if that doesn't work, try http://www.sheldonbrown.com/
It sounds like you're almost there. You could probably even sell it as is for a decent sum, but you'll have a better shot or get a tad more $$$ if all the gears work.