An approximate worth of this bicycle

Question

I'm planning on purchasing this vintage 70's Schwinn Varsity bike off of Craigslist, but before I do, I want to know if I'm getting a good deal on it. I did some research of my own and found that bicycles similar in brand and type but different in model have had an asking price below $100 - which worries me because the owner is asking for $125. But of course, those bikes whose asking price are below $100 are located far away from where I sit. From how I see it so far, it seems to be a modest deal because most of the vintage road bikes I've seen (on craigslist from my location) go around for $200-$500 (but these bikes are usually more high-end and perhaps even better road bike brand). What do you guys think? Should I purchase the bike?

Pictures: http://img108.imageshack.us/img108/6607/01010801150301020220080dn1.jpg

http://img108.imageshack.us/img108/1907/01020401040701030520080sb8.jpg

Answer 1

Before you do anything make sure that it is the correct size for you.

If it's in good shape and fits try to get him down to $100 but

if you have the money to spend you would enjoy a  high-end bike more.

The parts would be easy-er to get and the bike would be lighter..

Answer 2

Offer $80 if he says no go to $100 and stay firm at that he'll give it to you. Did you even consider parts availability for this rig? They might be very hard to replace if something brakes. I'd offer starting at $80 then he might meet you at $100. Test ride it to see if you'll even like it too. Good luck.

Answer 3

$125 is already a great deal for that bike (seen on pictures) i think the seller knows how much it is worth. The $125 is a solid deal but i agree with you on trying out $100 - since it would make it a sweeter deal!

If he wants the bike for $125 you better inspect the bike fully, nothing should be wrong. Slowly check for things and if you find something really wrong go back to your $100 offer.

Stuff to check:

- the wheels true? ( not wobbling between brake pads )

- spin the front wheel to check hub bearings; the wheel should have little / no friction.

- the steering tube / fork should be smooth when turning

- make sure you test the brakes, they should work smoothly.

- crank / chainrings are true? ( not wobbling between derailleur )

- derailleur shifts to the min / max gears?

- give it a test ride! - adjust the saddle

You will probably run into these common problems, otherwise if no problems exist, buy the bike and thank him for it!

Vintage bikes can be a great addition but it's definitely not for everyone. I'd buy it if i were a collector or someone who is looking for a vintage bike to work on / restore.

you also must know these bikes weigh close to 35-40 pounds, depending on size; definitely not too great if you expect a speedy bike. but for $100, h**l, why not?

Answer 4

$125 for a nice working bike is actually a really good deal.

I think you should.

Or go to local bike store and try to find a cheaper bike.

But yes, I think you should.

Answer 5

Depends on the local market, but I would not pay more than $100 for a varsity unless the wheels have been upgraded from steel to alloy, or the frame was exceptionally mint.