Originally Posted by
miamijim
I recently picked up a mint, almost NOS 1989 Schwinn Tempo with full 105 for $200, the guy I bought it from paid $100 for it. You simply cannot get that kind of quality and level of componentry with a modern bike unless you spend $1500 +.
Same here. And I am not seeing prices higher than a year ago. So no bubble here. And the value of the vintage/near vintage bikes is compelling.
What I am seeing is that people returning to bicycling are visiting a local shop first, seeing that good road bikes are over $1,000. Once educated, they are more than happy to pay $300 for a Tempo. They know it is a deal.
If you want a good steel (cromoly) lugged frame bike, the manufacturers aren't making many of them anymore, whereas in the 1980s, such bikes dominated the mid range bike market. So picking up an 80s Univega, Miyata, Panasonic, Bridgestone, Schwinn, etc., can be a very cost effective way to getting a nice bike.
The three bikes I have to work on right now: 88 Miyata 712, 88 Schwinn Tempo, and 93 Peugeot PE300 all compare favorably to mid range LBS bikes in the $1000 to $1500 range.
So at least in my case, its all about VALUE. As long as pricing is a small fraction of new, then I can't see a bubble.
And one step below these bikes are the 84 Schwinn World Sport and 81 Trek 412 I just completed. Anyone buying these bikes from me will pay less than what a new POS at Walmart sells for. Compelling value.
I really just don't understand why people are still buying new bikes. Thats where the bubble is.
But buy and hold? No thanks! I have a house full of collectibles, and have learned that there is a fad impact on values. So they go in and out of style. I would have made more on my collectibles if I just put the money into savings bonds....