In the metro boston market vintage bikes are expected to look their age but the better it looks the higher the asking price. Since I only understand Raleigh type 3 speeds that's the only reference I can give. MINT bikes sell for 200 or more. Used bikes that ride swell are 100-150. if it is under that price, be prepared to do some work. I chalk it up to supply and demand...a vintage bike that looks its age OUTSIDE of commuter land..say upstate NH OR ME, wouldn't even get a second look. But in the city where demand is high for such things, people know what to expect and are just happy to get the bike they want.

I have yet had a call to repaint, if i did, it would no longer be vintage...it would be custom. I think if repainting looks bad or even LOOKS touched up, i think it would detract and draw attention to itself. like If i covered up the paint chips, what else did i cover up? I approach bike restoration like I approach book repair..1st do no harm, don't do anything additional that can't be reversed if the future owner doesn't like it. 2nd. do what you need to do to get it closer to original and prevent further damage. 3. make it pretty as possible.