Full picture album:
http://imgur.com/a/OCEC6
Picked this up from craigslist a couple weeks ago, advertised basically as "Raleigh Carlton road bike, Brooks leather saddle, old, needs refurbished, aultagra 600." Not knowing anything about Carlton at the time, and seeing the hilarious misspelling of "ultegra," I was thinking higher-end 80s road bike, and went and got it. Upon seeing it in person, I knew it was definitely a much older bike, with a bizarre mix & match of components. 70s Shimano 600 rear derailleur, 80s Shimano 600 crankset, Simplex Super LJ front derailleur (with a broken clamp unfortunately), Dura Ace clamp on shifters, and Super Champion competition rims, laced to Shimano hubs and built by Wheelsmith. The Brooks saddle is dated 1966, and I'm assuming it's original to the bike because that seems like about the correct age for the frame. Still has original GB stem, and aluminum handlebars and seatpost (haven't checked to make sure they're free, almost afraid to find out). Frame consists of butted Reynolds 531. It's been the victim of a poor repaint attempt, but at least whoever did it had the sense to not paint over the decals.
I think I'm going to rebuild it with a set of early 70s Suntour derailleurs I have in my parts bin. Not sure whether to leave the crankset as-is or find something a little closer to period-correct.
I'm just wondering what this would be worth after a full rebuild. I figure just by virtue of being a 531 framed road bike, it's gotta be worth $200 minimum, maybe more... but with the non-original parts and partial repaint, it's definitely a rider rather than a collector.