Originally Posted by
alcjphil
Can't tell without detailed pictures. A bike that is at least 20 years old should be given a complete overhaul to make sure that all bearings are properly lubricated. If it hasn't been serviced recently the grease could have become rock hard
I would figure tires, tubes, and cables, plus a total clean and regrease---but if it really is in "like new" condition, then the really worrying items --wheel bearings, headset bearings, bottom bracket bearings---should all be fine. For $50-$100 you will have a lifetime bike---if it really is "like new."