Here's what I got from Waterford back in February 2002, shortly after I bought it:

Kirk,

Thanks for the email. This is a curious thing. I'll tell you what I know is real, and
we'll depart from there.

There have never been tandems built at Waterford. In the late eighties, there was a
Schwinn Duo Sport tandem that was built at the Greenville plant. It had lugs and carried
a decal that said "Paramount Design Group Tubing". These were set up for the road and
had 27" (not 700cm) wheels. To my knowledge, there has never been a Paramount tandem
with flat bars--I can't tell from the photos what components are there. The geometry is
not anywhere close to the Duosport, or to the 70's geometry used on Paramount tandem.

I will forward the pictures to Marc Muller (Paramount Design Group Engineer and Waterford
partner). However, I suspect foul play with decals here.

Feel free to call: 262-534-4190

Tailwinds,

Dirk Ingram
Waterford Precision Cycles


I should mention the decals are not cleared, so they were applied after the frame was painted. But, this doesn't seem to be a homebrew job cobbled together from two bikes, because of the build quality, the ovalized boom tube, and the long stoker compartment.

Appreciate your interest in this mystery. Any other guesses?

And, if you're in the Washington DC area, are you interested in buying it?