What is COLLECTABLE vintage:
- Lightweight bikes with a heritage of design innovation, race-leading performance, superb build quality/metallurgy and /or limited production runs.

Examples: TIER 1
Schwinn Paramounts built in Chicago
Italian boutique bikes (such as Colnago, De Rosa, Tommasini, Legnano, Rossin, Basso, Pogliaghi, etc.)
Peugeot PY-10
Raleigh Professional
Hand-built British bikes (see the Hilary Stone site for more details)
Hand-built USA bikes (Spectrum; Bruce Gordon; Tom Ritchey et.al.)
Hand-built Japan bikes (Cherubim; Nagasawa; Alps; 3Rensho)
Hand-built Belgian bikes (Gazelle, Mercx, etc.)
Hand-built Swiss bikes (ex. Cilo)

TIER 2:
High-end Bianchi bikes from Italy (particularly in Celeste Blue)
Petersen-era Bridgestones made in Japan (MB-zip is the only exception)
High-end domestic Schwinn bikes from the '80s (under-rated, but only for now)
Vintage Schwinn lightweights from the 60's (fillet-brazed)
Trek-Wisconsin bikes from the 70s to the early 80s
Miyata high-end touring bikes
High-end European bikes from larger manufacturers (ex. Motobecane Grand Jubilee; Raleigh International; Austro-Daimler)
Any high-end bike from a Japanese-based manufacturer (Fuji)

Note - the above lists are not all-inclusive.

What is not necessarily collectable, but worthwhile adding to a rider's vintage collection if obtained at fair market prices:
- Mass-produced lightweight bikes with reasonable build quality, good metallurgy and good overall performance.

Examples include
Panasonics
Panasonic-built Schwinns
Japan-built Bianchis
most Nishikis
Trek-Wisconsin bikes from about the mid-80s to late-80s
Maruishi Road-Ace bikes
Non Petersen-era Bridgestones
Peugeot, Gitane or Motobecane lightweights - yes, even the gaspipe ones, mainly due to the ride.
Raleigh, Dawes or other mid-range lightweights from Great Britain.

Again, above list is not all-inclusive.

What is not collectable (unless one is into the scatological):
- Mass-produced department store bicycles made with indifferent metallurgy, part specification, geometry and build quality.

Examples include
Huffy, Columbia, Murray, Free Spirit, Kent or generic/mystery brand boom-era "lightweights"