Originally Posted by Sammyboy
I have the likely opportunity to buy a very nice vintage bike for a couple of 100 pounds. This being the sort of bike which might sell for £1000 when tarted up. The problem is this - I don't know a lot about restoring things. It has a Major Taylor stem, which I could get rechromed, maybe the cranks too. The wheels look ok, but they're 4 speed Sturmey hub gear, and I'm not sure it's right for the bike. Worst of all, the frame has been brush painted. What might I expect to do to sort this out, and, given the unknown state of all the bearings, how difficult is it to get replacement parts for 50's high end bikes?
I don't know about the UK, but in the US old bike restorations almost never bring in a reasonable return on investment. The most valuable old bikes are original examples in "like new" condition.
Failing that, a professionally restored vintage bike may bring in a nice chunk of change, but professional restoration is very expensive. In the US chrome plating is expensive due to strict environmental regulations.
A botched DIY restoration will surely ruin the value of the bike.
To sum up, I would only pay for a professional restoration if I really wanted the bike in my collection and not as an investment.