Originally Posted by
Wogster
I think the whole idea of keeping the old paint, is popular in North America, because bicycles are considered toys, so if it's old it must look like a museum piece.
I'm pretty sure it's the issue of legitimacy. Cars are one of the few things where a refinish doesn't destroy the "collector" value, chiefly because other things are used to establish that the car is what the seller claims it is. Pick your favorite American musclecar and scope out the prices for a "numbers matching" example vs one that's had a motor and transmission swap.
This forum is really good at identifying frames based upon information other than the authority of original decals, but the "collector" market doesn't really care. Antiques are the same way; without the original finish, doubt is cast upon whether it really is what you say it is.
I keep using "collector" in quotes because with a few exceptions, even the financial argument is a storm in a teacup. It'd be financially foolish to spend $1k to have Waterford do a gorgeous job on a beat up old steel Trek only to have its "value" drop from $200 to $150... but if that paint kept you up at night with excitement about how gorgeous it was, it might be a good buy.
I really like a lot of the things that are said when this topic comes up, especially by randyjawa. To me, the most important thing is to remember that it's not an investment. Every dime spent on repainting has to pay you back in increased enjoyment of the bike, because it's sure not going to pay you back in resale value.