Yeah, exactly...too much work. I don't want to part it out.

I have been getting lower estimates on this, and is that only due to the cosmetic condition? I mean, I've only seen one other one for sale that was restored fully but it sold for over $1k.

It's unfortenate but ounce the original chrome finish is gone or has cosmetic issues on a bike like this you can loose close to half the value maybe more over one with prestine original paint and chrome. Even if you spend a tone of money to have a professional restore it with artwork close to $500 it still won't be original.

As there are few, ONE sale at a handsome price does not a market make.
Reference up on cleaning chrome. British Empire chrome is often very recoverable. Some areas like adjacent to the bottom bracket will even with a rechrome, not be perfect.
If you want the highest value, find the missing parts, including a correct rim.
The cost associated if you intend to set this up for resale, pushes you instead to clean it up to a terrific standard, maybe fit the correct saddle and call it a bike.

Was that a sold comparable or an asking price? I'd say there are a lot of pie-in-the-sky asking prices for bikes on the big auction site. When bikes I buy in near pristine condition for $75 and someone has a $500 BIN, you know they're not doing there homework except to price like many other unrealistic sellers. Monkey see, monkey do!

That's the point: there's only been one other for sale, and that doesn't help give value to the unrestored ones out there. I was just expecting a little higher than the ~$200 range, especially when the potential is all there and it really wouldn't take too much money to get it fully restored.

Well, it was a few years ago and it sold for that (roughly, I don't remember the exact number). One was just on there recently that didn't sell (also for about $1k), so I don't know what is a firm number I could put on this. I know it has to be more than $250, but less than ~$1k. But even with pictures, nobody on here has given a number that makes sense. I think the value is in the potential for a great restore.

I know how eBay works. I've sold hundreds of things on there, and people get out of control with BIN, but sometimes their price is right.

IMHO, the "nobody's" here have shared their sensible, unbiased opinions and expertise, some with many years experience and hundreds of transactions under their belt. Any restoration upside in the potential value belongs to the person doing the work and taking the risk, not you for an "as-is" sale. If you're think there is smoke being blown your way, then list it as a no reserve auction and let the market speak.

Well, the problem with the estimates is that there really are no comparables. I just want an estimate that takes the rarity into consideration, not just the condition.

Really? Check around. If you could even find someone that would take on a rechrome and multicolor chromovelta paint job, plus pinstriping on Nervex lugs? $3-5000 if there is anyone that would even attempt it.

Get real. The bike has little value because the finish is shot. The parts are rusted. Restore? Good luck.

I'm afraid I have to agree here, the amount of labor going into a proper restore on this thing would be insane. Even in the Raleigh factory, using assembly line techniques this bike was a lot of extra work to finish and was priced accordingly back then. That extra work, and it's value, has effectively been erased from the bike by time and oxidation. Sure it's really rare bike; but what makes it rare needs to be completely redone.

Unless the OP likes it for his personal riding needs, he's going to have to find someone who really appreciates the level of patina on this old bike and even then settle for ~$200-300, if he can find that person. Best bet - eBay.