Just to throw out my 2 cents, I have a 1986 Olympic (non model 12) that I bought new that year. I think it was just under $300 not sure but I still somewhere have the receipt. Mine is double butted in the triangle. It came with Shimano "Light Action" short cage RD and ratchet down tube shifters, fluted alloy seatposts, Dia-Compe side pulls and 700 x 25 clinchers. Mine is in very good condition, paint is blue and white. I put SRAM aero brake levers and dual pivot brakes on it and new saddle other than that it's as is for the factory. If I'm using a large freewheel I will put a modern long cage RD on.


For what it is it's a decent bike. The paint while in good condition is a little brittle and always has been. Hit it with something it will chip. I have tried the light action short cage with SIS shifters and it will work. Light action was one of Shimano's first attempts at SIS but the bike uses ratchet friction shifters.


At the time when I bought it I rode a lot in group rides and organized events from 1986-1991 during that time I only ever saw one other Olympic. Bad timing maybe. But the bike is solid no leaks or creeks and was easily one of the best value purchases I have ever made. I still use the bike but mostly on my fluid trainer. The geometry of the frame is in my view closer to a race frame than tour so I think it's a tad bit uncomfortable on long pleasure rides.


Although I have long sense paid for the bike and have got my money out of her I don't think it's a good frame to put a ton of money into for upgrades. The Olympic 12 is probably a better frame than mine but still not quite there, it's a good honest bike but as others have said it's at the upper level of entry level I think that is the best way to describe it.