Originally Posted by
EjustE
Not necessarily... and it was not an "appraisal", just my opinion of its "value" (to me who I don't see that bicycle as practical today) but I am sure that someone might be willing to pay $1000 for this frame to have it sit behind glass and look at it. Who knows? Value is relative and in the eye of the beholder. In my eye its crazily-priced
This particular frame is not Waterford-painted (it is "restored") and in 2009 $1000 can buy about 10 frames (instead of this one) each more appropriate for use than this one. It does have collective value, but not much use value. Take the "Paramount" sticky off and it changes a whole bunch of things.
You're assuming value only in terms of utility, and not in terms of history. This bike, like many others discussed on these forums, is part of cycling history.
In this case value is more in history and rarity than utility. Thank goodness people treasure these items so, and value them so highly. Otherwise, they'd be treated more carelessly, and probably not preserved as well.
Edit: not saying they're not useful, but it is true that a bike can be had for much less that would be usable in all the same ways.