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Old 05-07-10, 07:22 PM
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Location: SE, Michigan
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Bikes: k2 Zed 3.0

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You may salvage the brakes, seat post, pedals, stem, bars, and downtube shifters, but the rest is crap. It's a 56cm frame (not 58cm), with a long chain stay (somewhat undesirable); the fork is bent, and the frame will probably need to be straightened. The crankset is toast; you can see how sharp the teeth are, it will need to be replaced. Judging by the condition of the crankset, I'm betting the rest of the drive train is on its last leg. The wheelset can be thrown away; I'm betting at the very least the cones and bearings will need replacing, if you keep the wheelset.

In short; you can probably restore this bike, and make it look great. It's definitely not worth $250. $20 tops.

EDIT: If you have a frame alignment jig; you can probably make an easy $100-$150 on eBay if you sell the frame.
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