Today I was let in a closed bike shop to look around (former Precision Bicycles Niagara Falls, NY). The building owners had assured me there was a very valuable old Schwinn bicycle still inside. Dreaming of a Paramount or Voyageur I went in and saw the below bike. I then spent my time politely suggesting that the remaining stock be donated to the Buffalo Bike Co-op which I think/hope they might do.

I see only a very rusty old Schwinn cruiser but building owners saw it as a very valuable bike (I think they might have dropped a $700 figure) from the 1930's. It would never occur to me to pay anything for this but I did wonder if anyone knows what it is??? Just adding to my education. Is it really from the 30's????

No. Looks like an early '60's Jaguar three-speed. Seems to be in decent shape.

Pretty dang rusty. the right buyer, maybe $100. $150?

(You are clearly not the right buyer, [MENTION=466491]WGB[/MENTION].)

Sir! No sir!

I wouldn't buy it, but they did sell me a Park 2 stand for $100 and might donate a lot of parts to the Co-op so I am not being negative.....

I would call that "patina".

And the entire bike is there, including the racks and headlight. It's definitely an "intact barn find" which would be worth more than that to the right person.

I'm not saying Ebay is reasonable, but this indicates what people think it would be worth if cleaned up:
https://www.ebay.com/itm/1957-schwin...d/302768205967

It's an adoptee. Make someone happy out there.

PS Did you buy one of the shop vacs?

I've got one of those in worse shape down in my basement, I bought it for parts for another one that needed the kickstand and fenders. The one I fixed was in maybe half the condition of the one pictured above. It wasn't for sale at the time but I ended up selling it to a guy for $500 cash four years ago. He had bought several other bikes off me just prior to that and when he made the offer, I took it. He wanted it for restoration, mine was complete but rusty all over in need of new paint and a lot of chrome polishing. It was 'ridable' though. I had a few cleaner balloon tire models do much better, regardless of condition so long as it came with a tank and fenders.

I see a few vintage cruisers and "tank bikes" on Craigslist. I'm not sure of the different models, but I'd guess you are looking at a $300 bike or so. Or, maybe between $200 and $500????

Those are worth more than $100, you can get that just for the racks. You would be amazed how well that old chrome will clean up and shine. Take it apart and scrub and clean and someone may go $400. Old Schwinn complete cruisers sell very well, and that one looks complete. I had a blue one that sold for $350. Parted out you could get more, but it would be a shame to part that one out.

When I went to the Ann Arbor show/swap in April, that style of bike greatly out numbered the road bikes. I was amazed at the prices people were willing to pay for what we see as rusty old junk, but they would say the same about some of the bikes we like.

I've restored a lot of these over the years and you would be surprised what chrome polish and steel wool will do to that old chrome. Another trick I learned with old steel is sandblast the crap out of it and polish it with a wire wheel on a bench grinder, it sounds horrible but it will polish up stems, nuts and bolts. Plus people who buy these type of bikes would rather have rust and patina over a completely restored bike as long as its complete and original.

My theory is it must have been part of their long time displays (maybe hung above the shop floor. or in a window display) in the shop as it will be a "cute" bike to see for the public visiting the shop.
Not really an expensive, rare bike, so it sat mostly untouched all those years most likely untouched, eventually developing that rusty patina.
I bet it will clean up decently with a good oxalic acid bath to get rid of a lot of that rust.
Being so complete and original, it should have decent value, especially to Schwinn collectors...

I'm not into those sort of tank bikes/balloon bikes etc... but I'd try to leave with that one. I'd actually clean that up and ride it around the neighborhood! It's a men's (+++) It looks to be fully equipped and original (+++) That sort of chrome really cleans up (+++). Oh, and it's "badasssss!"

I just missed a bare 1961 Schwinn Corvette frame and fork on CL, the guy had it at $150, he also had the wheelset for $150, both were gone in two hours before I got home today. I called at 8am, he said someone was coming right over, they were gone when I called back at noon. I could have used the frame and the wheelset.
I sold a 1965 Speedster today, all mismatched parts but with really nice chrome for $350, the bike was built from three or four others in various states of condition. Most of the chrome came from a minty ladies Breeze I parted out.
I sold the bare Breeze frame for $50 to another guy who wanted to build a bike for his wife. 20 years ago you couldn't give a ladies bike away for more than $50, they were just parts to fix up a man's bike. Now even they sell.
Its only the Schwinn bikes that sell like this, I've never been able to get more than pocket change out of any other brand unless its a well known 50's tank bike.

True. Schwinn used thick chrome plating on their parts and it always amazed me how well it survived under a coat of rust. Back when I was working in a Schwinn shop we would use Quick-Glo on parts as bad as what's on that Jaguar and they would come out looking like new.
Given that that bike has never been out in the weather it's a good candidate for a long clean-up and restoration if the new owner so chooses.

Everything seems to clean up well on the old Schwinn bikes except the crank arms. I've got a dozen or more cranks here with the chrome gone on the left arm only. The rest of the bikes were all fine.
For some reason the chrome plating on the left arm goes away first.