I always thought I would build a touring bike one day then I saw this 520 frame and fork that look like exactly what I have been looking for: lugged from 1992 and in good condition. How much would you pay for a frame like this?

Any ideal would be helpful. Thank you!

It really depends on what "good condition" means. I recently got a 1988 with Reynolds 531 tubing, complete, for $250. It has some rust on the top tube braze-ons from being used on the trainer. All it really required was general maintenance, like replacing cables and rebuilding the hubs, to bring it into perfect working condition.
With a new Brooks saddle, Jandd rack and SKS fenders I have about $500 in it total. i might be able to sell it for $600. If you assume a '92 year model in very good condition might sell for $750, work backwards. How much is it going to cost to build it out. When you also look at a new REI Randonee or a Surly LHT going for under $1000, it is hard to justify paying much more than $100 for a bare frame and fork.
If you want the joy of bringing an old bike back to life or there is some sentimental attachment to that particular model and you plan on scouring the internet to get good deals on used parts, it might be worth more to you. However, if you are going to have a shop do the work, you will never get the numbers to work.

Thanks for your thought. It helps to break down the cost this way. It turns out that the seller asked for more than $200 for it. Too much.

I paid 200 for mine, a 1993 (?) model. the components were in good enough shape. I rode on it for 2 years while I thought about what would be the best components for my needs. After switching out the drive train and the shifters I was still below the cost of a new 520 with parts that did not really suit my needs.

I think that's an excellent post and hits the nail on the head. Usually building up a frame just isn't going to be economical unless you already have some parts you can use and do all the work yourself (given costs of an LHT complete). There is the extra value attached (but just for yourself mind you) if you do it yourself -it'll provide you with some pride and satisfaction as it's your work.

If the frame is in great condition and you have quite a few parts, and can do the work yourself, it's probably worth $200, but otherwise and unless you've really fallen in love with it........

edit: one last thought -if you are looking to build a bike little by little and don't have the full amount available for a new tourer (and perhaps don't have the discipline to save) it might also be the way to go.

Building a bike up from a frame is fun! But as posted above, it costs more money. Don't let that stop you if want to do it.

Even if you work at a bike shop and you score a cheap frame, get a heavy shop discount on parts, with all the tools to prep and intall the headset and B.B -- you still can't make money building up a bike.