One of the top Miyata racing frames. Value depends on location, mechanical condition, completeness of original components, and cosmetic condition. Miyata catalogs available online.
+1 to @
wrk101's comments, regarding the actual bike. In fact, I rarely give a FMV estimate for an "as refurbished" bike without seeing the actual work product, because some guys do sloppy work and others do superb work. Also photo quality varies too, and the same bike leaning against a clean backdrop vs a backdrop of weed infested sidewalks and rusing bike parts is worth more. Unless they consistantly turnout great finished bikes and photos, no opinions until the homework is done.