It is not my bike, just one I am looking at.
What I'm seeing so far:
- Vinyl decals, with a thick edge around the letters, under a clear coat.
- Looks like the clear coat was sprayed over a bottom bracket cable guide, as the frame under the guide's former location is dull and the neighboring area is shiny.
- A Reynolds 531 decal, green "531", "forks stays butted", but the decal looks like vinyl too.
I'm starting to be cautious.