I think that's an excellent post and hits the nail on the head. Usually building up a frame just isn't going to be economical unless you already have some parts you can use and do all the work yourself (given costs of an LHT complete). There is the extra value attached (but just for yourself mind you) if you do it yourself -it'll provide you with some pride and satisfaction as it's your work.
If the frame is in great condition and you have quite a few parts, and can do the work yourself, it's probably worth $200, but otherwise and unless you've really fallen in love with it........
edit: one last thought -if you are looking to build a bike little by little and don't have the full amount available for a new tourer (and perhaps don't have the discipline to save) it might also be the way to go.
Originally Posted by
CardiacKid
It really depends on what "good condition" means. I recently got a 1988 with Reynolds 531 tubing, complete, for $250. It has some rust on the top tube braze-ons from being used on the trainer. All it really required was general maintenance, like replacing cables and rebuilding the hubs, to bring it into perfect working condition.
With a new Brooks saddle, Jandd rack and SKS fenders I have about $500 in it total. i might be able to sell it for $600. If you assume a '92 year model in very good condition might sell for $750, work backwards. How much is it going to cost to build it out. When you also look at a new REI Randonee or a Surly LHT going for under $1000, it is hard to justify paying much more than $100 for a bare frame and fork.
If you want the joy of bringing an old bike back to life or there is some sentimental attachment to that particular model and you plan on scouring the internet to get good deals on used parts, it might be worth more to you. However, if you are going to have a shop do the work, you will never get the numbers to work.