Sorry if this is common knowledge, a search didn't turn up much, but theres a Raleigh Olympian, with the steel frame, available nearby for not much money. I'm not familiar enough with it to know how old it is, but it is in almost new condition and I was thinking of making a project out of cleaning it up, if it even needs any cleaning, and giving it to a friend or selling it. What would be the approximate value of such a bike?

Thanks!

Probably not much. Olympians were USA Raleigh models from the mid-eighties I think. They were not English made and the frames were not particularly light. Most had Raleigh 555 branded tubing which some claim is rebadged low-end Reynolds. Most also had stem mounted shifters which are somewhat undesirable.

That said, some are pretty cool looking and they are fairly solid; if you just want a commuter its probably a fine buy if its not too expensive.

Thats somewhat what I expected. Thanks for the info!