Join Date: Jun 2008
Location: Just outside Kitchener, Ontario
Bikes: Nishiki Continental, Bilenky custom travel tinker, home built winter bike based on Nashbar cross frrame
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The T-100 was kind of in the high-end entry level range. This range was characterized by being outside of the scope of the "department store" class, but below the Santana, Co-Motion, and the like price range. The closest comparable bike today would be the Hokitika by Tandems East, selling at about $2800. If you take Mark Livingood's "Used Tandem Pricing Guide" and extrapolate from 10 years of age out to 1993, you get something like 28% of the current replacement value. Figuring $2800 as replacement value you're in the right ball park. Things like racks, fenders, bottle holders, suspension (stoker) seatpost will increase the replacement value.
So if the bike is in good shape, and fits, the price is about right. The frame should be good enough to be worth upgrading components to something newer as they wear out.