No offense intended on this side either, and I was never wishing to do so.

Perhaps I can explain where I'm coming from. Starting with the more simplistic frameset point of view: I see it as an intact, but repainted Paramount frameset in need of some tender lovin' care. Anything that hasn't been polished out and the chrome buffed out automatically devalues.

That's not to say that the value is not there - it is just a matter of whether you wish to bring out the Meguiars Scratch X and polish up the frame, and give the chrome a nice cleaning with fine bronze wool and Flitz metal polish. Some wish to slave over it (most of us love to do so) with cleaning solutions, some owners that just want to part with it do not. Regardless, even though the bike may have potential value after being cleaned, it does not mean that when in its uncleaned state will it be worth the same to the potential buyer. Presentation is part of value.

That said, here is a similar men's frameset that recently sold on eBay. Beautiful condition, well presented, and keep in mind that shining original paint:

http://cgi.ebay.com/1972-22-inch-Blu...QQcmdZViewItem

Sold for $450 (not $700+). Obviously, it looked $450's worth. Yours can look so too, but it would require a couple hours worth of polish, careful removal of that coin from the frame with Goo Gone for originalities' sake, and one must still remember that the paint job is different from the original (I wonder about the quality/durability of the finish too, and how well it will shine after polishing). I dare say it would bring a nice chunk of change in this state - perhaps not $450, but a good price nevertheless.

Now one can figure in the components mounted. The fact that the bike is missing most of it's Campagnolo components doesn't particularly help - one still has to track down levers, rear derailer, and possibly a new crankset if they want to remain truly original. This stuff adds up (particularly an original Campagnolo triple crankset without additional 3rd-party drilling), and will devalue the machine unless the original components happen to be in that big box of parts.

I don't know if the Mountech has a following or not in terms of above-average value. The Superbe levers might be worth something, though I would expect them to bring a decent sum only if sold separate - wouldn't know of many folks looking to buy a Paramount because it so happens to have Suntour Superbe levers on it (or the Mountech, for that matter) - Paramounts are desired today because of what they were originally - an excellent frame with a nice Campagnolo or Campagnolo/Weinmann component set.

Value of the sum of the components mounted on a frame are always less then when sold individually, and unless those components are of interest to the person looking for a Paramount, the importance of those components to the value the bike will command will diminish. Doesn't help if those parts have not been cleaned either - as I said before, a good cleaning increases value.

That said, here are some recent sales to give you an idea of the varying prices these Paramounts can command. All are original paint examples - couldn't find any other in eBay sold auctions:

http://cgi.ebay.com/Vintage-Schwinn-...QQcmdZViewItem
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There's a nice all-original example in a desirable color and reasonably common size. Hasn't been cleaned up (note surface rust on lugs), but it is pretty clean for "dirty," and drought a decent sum.

http://cgi.ebay.com/Vintage-1974-Sch...QQcmdZViewItem
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Here's an all-original, mint example that's been cleaned and presented very nicely, and brought quite a price as a result. Funny thing is that if the orange one had been cleaned with new bar tape, and presented well, it might have brought a price far closer to this one.

As for local markets:

In the unusual occasions where I've sold a nice vintage machine on Craigslist (and you can bet dollars to doughnuts that said bike wasn't my size ), I'll usually knock off about 20-25% of what I'd expect to get off of it on eBay, because the local folks know they can get a better deal in the local market. Price above the local market, and I've found that one will find themselves sitting on their bike for a nice long time (amongst the occasional price heckling email).

That said, the location that one is in has a good deal to do with it too. I usually price via what I find locally here in Miami, and I perhaps forgot to take the blinders off and take your LA location into account. Your local market might be conducive to higher prices then Miami, though I still believe $700 for the frameset is a bit much.

I don't know if what I've said here makes much sense, for I didn't have any cohesive idea of how in hell to explain this when I began to write. Nevertheless, I hope you will understand what I mean. No hard feelings intended.

Take care,

-Kurt