From Sheldon Brown on Crescent bikes:

Crescent (Monark)

A Swedish bike not to be confused with the American marque of the same name from the turn of the century. The classic model is Orange with funky checkerboard graphics. Workmanship, if you could call it that, was lousy, and the bikes had memorable toe-clip overlap. We don't mind some overlap, but this was more like foot-in-the-spokes overlap. Made for an interesting ride. They were actually a fairly competent race bike, and I knew some people who devastated a number of fields on these orange beasts. Most surviving examples were probably repainted and then met untimely deaths from commuter hell accidents, so examples with nice original paint are rare. Even rarer are those who would pay serious money for one. Figure $675 for one in guideline condition.