Nishiki, what is a fair price for it
 

Hi, I just moved to Portland. My coworker is selling his bike that is a nishiki for 175$. I rode it and felt good. I'm new to riding and don't have any idea on what it's worth or should pay. He said he recently had a tune up. The only issue it has scrapes/scratches on frame and fork. Can see the metal where paint used to be. please let me know what would be a fair price. No dents or cracks.

$175.00? That is about seventy five dollars too much, in my opinion. Also, it helps to let us know where you live. Market area has a lot to do with vintage bicycle value.

Where I live, bikes like the one in question are refurbished and sold for under a hundred dollars. In Toronto, a large center 1000 miles from Thunder Bay (where I live) the same bike might fetch the $175 but I doubt it.

$150-175 seems about right for a bike with a cro-mo frame and decent alloy components in good ready to ride condition in Portland which is a pretty expensive market not much of anything $200. With the rough paint and cheaper stem shifters with safety lever brakes both of which don't seem original to the bike, look to be downgrades based on the other components, it would be $50-75 less in most markets.

I don't think the frame is full CrMo. The rear dropouts are stamped and it has a bottom end rear derailleur with claw hanger, which is typically indicative of hi-tensile steel. It wouldn't surprise me if only the seat tube is butted CrMo. All the components, are basic and while it does have aluminum rims, they are the older 27" style, so maybe the stem and safety levers aren't downgrades. Overall, I'm underwhelmed for a bicycle with a butted CrMo decal. Given the condition, I'm more in line with Randy.

Frame says Tange-I dont see a claw on that suntour derailleur. Other than scratches/I see no rust-good tires-clean cables and the bonus of a carrier. IMO worth the asking price (ESP in Portland)

If you're over 5'6" that bike is too small, as it appears to be a 52cm frame.

Hard to tell from the photos for certain, but that fork looks like it may have a tweak in it from a frontal impact, it looks a bit bent below the steering tube. Check carefully, as a site line looking from the top should show a straight line from the steering tube to where the fork bends forward.

Paint is very rough and typically I have no interest in bikes in that condition. Portland's reputation for being a hot bike market, I would value the Nishiki at about $100-$120, in ready-to-ride condition, if there is no fork issue.

Excuse our Canadian friends for their lowball valuation, they feel almost as bad about the loonie as the Brits feel about the pound. :D

If you wish to remain friends with your coworker, just tell him you want a bike not so cosmetically challenged.