Originally Posted by cyclotoine
It's worth $50 here, in fact you could probably get more...
is it worth $50 to a collector on this forum? No.
is it worth $50 to someone who wants a bike to learn some mechanics on and get around town and not wait for months (scouring CL, thrift stores and auctions) for the absolute steal of getting a 531 bike for $50? YES!
+1
If you see what an LBS will charge for a not so special used bike with a not so great finish, $50 isn't a bad deal for something that with an additional small investment will be a perfectly good, functioning bike.
Yes, if you know where to look, have patience, a bunch of spare parts lying around, you can put together a better bike for less. Not everybody is in that situation.