Hey, I was going through my garage and ran into my dad's old bike. Its been in storage for years and is in excellent condition. I am looking to sell it, but I am trying to find out how much its worth. Ive seen as much as $1,600 and as low as $300. I don't know much about bikes! Please help!

I reckon 3-400

Rusty cables, dried out tires, the bike needs a full overhaul: lube, cleaning, polishing, and new consumables, about $225 for the non DIY owner. FMV as shown, $275 +/- 10%.

Could be worth more as a part out, but a lot more time.

Clean the bike, take daylight photos outdoors with a neutral backdrop.

It's a good bike, but not a particularly valuable one. This one's from 1986 or so, and MSRP at the time was $899.95. Guessing sale prices is an inexact art that depends a lot on timing, presentation, and location, but my initial guess would be roughly $250.

Pros:

• It's an old Cannondale. Cannondale used top-notch frames up and down their product line, and the brand does have a following.
• It was third from top of the line in Cannondale's road bike lineup at the time, so it wasn't an entry-level bike with bottom-tier components.
• It has a 54 cm frame, which is a common size. Lots of potential customers.
• The black-on-black color scheme might appeal to more contemporary buyers more than some of the bright color combinations found on some other '80s bikes.

Cons:

• Rare bikes or top of the line bikes with top of the line components tend to be the ones that have collector value. This bike, while a good bike, doesn't have those factors in its favor.
• The bike won't appeal to riders looking for frames they can upgrade. Modern 8/9/10/11 speed rear wheels have hubs that are 130 mm wide and won't fit into this frame, which is most likely spaced at 126 mm. The frame's aluminum, which doesn't take well to "cold setting" (bending) to take a wider hub.
• If it doesn't appeal to the collector or someone looking for a project, the bike's value will be determined by those looking for an everyday rider as-is. Many of those buyers will prefer bikes with newer features like integrated shift/brake levers and more than six cogs on the rear wheel.
• While the bike looks like it's in good mechanical condition, it's not in great cosmetic condition. It looks like it's been sitting in the garage for years without much attention. A good cleaning would make the bike more appealing and may net you a better sale price. A proper repositioning of the handlebar, which is very easy to do, would also help.
• The bike is almost certainly in need of an overhaul simply due to age, and savvy buyers will factor that into the price they're willing to pay. Headset, bottom bracket, and wheel bearings will need to be re-greased. Brake and shift cables & housings may need to be replaced.

To get a ballpark estimate of a bike's value, you can take a look at eBay. Don't look at asking prices, though -- you'll often see all sorts of crazy asking prices for things that go unsold. Instead, look at the successful sale prices for similar bikes in completed auctions. Search for something like Cannondale SR800 and when you get your search results, select Show Only: Sold Listings in the left column.