Join Date: Jul 2007
Location: Seattle, Washington, USA
Bikes: 2014 Pivot Mach 5.7 MTB, 2009 Chris Boedeker custom, 1988 Tommasini Prestige, 2007 Bill Davidson custom; 1988 Specialized Stumpjumper
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Take the price of a new Surly LHT - it's about $1150 I think. Cut that in half - $575.
*Subtract* from that (a) the price of reconditioning a bike that hasn't been ridden for 15 years -- tires, tubes, bar tape, brake pads...maybe cables and a new chain as well.
*Further subtract* from that (b) the price of any work it needs that you can't do on your own (wheel truing? overhaul derailleurs?)
So offer: $575 minus (a+b).
Assuming, of course, that it fits.