In the past 3yrs, I've seen three different ads for a mid-1980s StumpJumper in 17in frame size with 24in wheels. One ad was, IIRC, $250. The other ad I can remember was north of $500. All ads were in the San Francisco vicinity (+100mi radius).
If components are in fairly good condition, if everything's operable (aka "needs nothing"), and if the frame and fork are undamaged (ie, no cracks or other clear weaknesses), then I'd think anywhere between $200-300 would be a reasonable price to pay. If it needed replacement of a variety of parts, or if maintenance hadn't been done "in years" or some other negative existed on the thing, I'd adjust downward from there.
Considered picking up the $250 one, a couple years ago. But that would have been $250 + packing fee + shipping charge, and there'd have been no guarantee it would arrive undamaged. Didn't do it, as I considered ~$350-400 a bit much to pay for the platform.
Decided, instead, to pick an inexpensive Trek 970 ... and then summarily swap out nearly every single part on it. Strong fiscal wisdom, right there.
