Originally Posted by
EjustE
Not index. '87 is the first year of indexing for Treks. $300 is too much for this bike. I picked an '87 400T with a 531 main triangle and indexed shimano shifting for $90. All original, fresh lube, true wheels, but a bit frankened with a flat bar, the fix was about $25. I'd say $150 max is what you want to spend for a 501 bike in a competitive market like Portland (You are probably better off looking for something lighter in a lesser known or disregarded brand - the Schwinn Tempo -85-89- is a perfect example of such a bike)
I doubt you will be able to find a 501 bike in Portland for $150. The bikes in that price range I saw in the Portland C/L had steel rims, cottered cranks, and Xmart brands.
As far as a 87 400T for $90, that is a smokin hot deal, well below market. Pretty much any steel Trek in ready to ride condition has a value of about $200 around here. Portland prices tend to be significantly higher than where I live. And I would consider a Trek 500 to be a mid grade Trek.
Check out the 1983 Nishiki Olympic 12 valuation thread. Its a bike with less value IMHO. Several posters put its value at the $300 mark. Its really a local market thing.
From what I have seen of Portland prices, I don't know that you will find a good brand, mid grade, indexed shifting bike at that price. Such bikes sell for $250 and higher here (market price).