Originally Posted by T-Mar

In a case where a frame is seriously over-dressed (i.e. the components are much higher level than the frame), the value is effectively that of the components.

In a case where the frame is seriously under-dressed (i.e junk components on a high grade frameset), the value is effectively that of the frame.

Obviously there is a lot of room in between these extremes, where the components do add some value. In this case, the mismatched brands, eras and levels of components don't help. Worse yet, are the band-aids necessary to make things fit the frame (i.e. putting a claw hanger on the derailleur, adopting the Syncro levers to a clamp). Potential buyers will tend to focus on what they use, offering an appropriate amount for those parts plus what they know they can sell and maybe adding a small amount on top for the remainder and the frame.

As for the photo, it is well lit but the resolution is poor, so I wouldn't call it a good photo. If I hadn't been told the components, I would be hard pressed to have identified anything beyond the crankset and the I would immediately have passed this over based on the claw hanger and clamp style shift levers.