They always seem to be considered great in their own right but at the same time rather worthless

Here's the one I have now. A pretty good example, all original Schwinn Approved parts

The Ford Mustang came out as a utilitarian, economical non-sexy car when it was introduced in latter 1964. And look how much they've appreciated. The Varsity was also a utilitarian, economical bike but it never caught on with collectors. To answer your question, maybe $40 - 50 to the right buyer.

I saw one at Goodwill last week for $8.

Of course, it was pretty badly rusted.

That's not how I remember the hype surrounding the release of the first Ford Mustangs. It sounds more like the Falcon they were based on.

I flipped a ladies model like yours for $25 earlier this year. It was that very desirable copper/bronze color. It sold within 24 hours on CL. I had at least a half dozen responses. Probably could have gotten another $10 or $15 for it.

All I know is that I wanted one when I was a kid and now at 54 I finally have it and I'm not flippin it I'm gonna do with it what it was built to do RIDE and in the short time I have had it back on the road (maybe a week) I have had more "hey cool bike" remarks than I can count. Sure its heavy and doesn't stop on a dime but it sure turns heads. Shifts a lot nicer than I though it would and rides smooth as silk. Its a cool old bike. I paid fifty bucks for it and by the time I get the new Brooks and seat post and with all the other stuff I have bought to restore it I'm into it for way more than its worth to collectors but I don't care. I got my Varsity gas pipe and all that chrome

It all depends on who is buying and the three factors: how early in the 60's? How good is the paint? And how orginal are the components? Yours must be about an early '70s Kool or Sunset Orange? It's probably not worth a great deal, $0-$50??? Best of luck.

Sold a Sky Blue 65' to someone in CA for $80.00 plus another $60.00 in shipping earlier this year. It had good paint and wheels that needed a bit of attention. Oh, and it was a men's style.

The local bike coop charges $50.00 for old EF Schwinns that have been mechanically refurbished and have new tires.

I was a teenager when the first mustang came out. I don't know where you got the description "utilitarian, economical non-sexy". It was viewed as anything but that by me and my friends. It was the hottest new car around (next to the Corvett Sting ray) as viewed by me and my peers at the time.

Bob

Serial is CK559037
That puts it March of 1974. Decals look 60s to me but maybe 74 was the last year for them

I'm selling it to a friend so not looking to rake in the profits, just wondering

I sold a bronze colored mid 70's Varsity just like that last Christmas for $150 on CL. I only had one response, but it was enough. He bought it for his girlfriend.

Mine was MINT, though - as close to showroom as I've ever seen. Everything original, down to the tires and tubes.

And THAT is what it is all about, folks!

I remember watching a show on Mustangs about a year ago, they mentioned that the Mustang was geared towards women buyers!? Dont get me wrong, if I could afford one Id be driving it today! but thats what they said! forgot to mention, I too have sold Varsitys and LeTours for upwards of $100.00

How much does that thing weigh?

I see the electro-forged bikes on (the pdx) CL go for an average of $150 or so.

I got that description from remembering Lee Iacocca in an interview years ago. He described the 1964 Mustang as "...the economical, fun-to-drive Mustang..." https://www.hfmgv.org/exhibits/showroom/1965/pr1.html

that had to be, "as low priced as possible", "have good trunk space", "offer good performance and good economy", and "it had to be versatile". https://www.hfmgv.org/exhibits/showroom/1965/pr2.html

That sounds utilitarian and economical to me. Personally, the bare Mustangs didn't do anything for me, but the Mach1 and the Boss 302 rocked.

That said, many people did consider the new Mustangs to be sexy and that was what got Ford thinking about the many options to add which got Carroll Shelby interested in the Shelbies.

But we digress from the OP's Schwinn Varsity value question.

In the mid seventies when I was a teenager, I DID NOT want a Varsity, I did really want a nice 65 or 66 Mustang.

I had two Mustangs a 65 and a 70 fastback that was write me a ticket red and I got a couple too. the girls loved that car

Actually Carrol Shelby had an idea for a sports car but had no idea that it would be a Ford engine untill after he had the soon to be "Shelby" bodies that were manufactured in England, he couldnt find engines suitable for the cars in England and began to look in the US, there he found the new Ford V-8, the below text will explain it a lot better than I can although some facts were left out to make Ford look a lot better!
September 1961 - When AC Cars of Thames Ditton, England, loses the source for its six-cylinder Bristol engine for its two-seat roadster, Carroll Shelby airmails a letter of proposal to the company to keep building the chassis for a special Shelby sports car to be powered by an American V8. As yet, he knows nothing of a new lightweight, thinwall-cast, small-block Ford V8.

October 1961 - Charles Hurlock, owner of AC Cars, returns Shelby's letter, stating he would be interested in Shelby's plan as long as a suitable engine replacement could be found in the States. The same month, Shelby finds out about the new 221-cube Ford small-block and dispatches a letter to Dave Evans explaining his idea for a sports car and his need for a V8.

Hey I have a couple of those Vicount sprung leather saddles in mint condition! Pulled them off a male / female set of Huffys (hybrid old-style bikes) in equally good shape. I didn't know they were used on road bikes.

The seat on that Varsity had a "Schwinn Appoved" plate on the rear. Also, it was vinyl, not leather.

A complete, rideable bike boom era Varsity ('71-'75) thru the late models with the Shimano front freewheel system ('83-'86) could go from free to maybe $50 depending. It can cost you far more to replace components on an incomplete bike that the bike is worth.

An early model can be worth much more. A mid-60s Varsity with downtube shifters and the factory leather saddle can sell for many hundreds. An eight-speed 1960 with all original parts, good paint and sharp decals would be worth thousands, if such a bike existed (even the '60 at the National Bicycle Museum has tatty paint and wrong components).

Really large (25" & 27") and small (16") framed Varsities are worth less, as are drop frame (girl's) bikes. The 24" wheel bikes with their 13" frames seem to draw decent money as rideable youth road bikes. The little camelback (15") frame is unique and will sometimes go for a few buck more, and the stars and stripes bicentennial paint scheme on the 1976 models always gets more money.

HTH,
TCS

I'm not sure if I agree with these prices. Maybe if the paint and decals were perfect and there was a bidding war. I've not seen a 1960 Varsity or Continental break $1K yet ...

Cases in point:

https://cgi.ebay.com/ws/eBayISAPI.dll...m=280120139419
https://cgi.ebay.com/ws/eBayISAPI.dll...m=300126555660

The original asking price on this 1960 Varsity was over $500 and the "market" set it much lower.

Then again, condition is everything ...

A quick search of completed listing on ebay shows prices paid from less than $20 to more than $200. It's bike to bike and there doesn't seem to be a "going rate" per se.

The last one I had was pretty nice with full fenders, so I only had to pay a guy $10 to haul it off.