Date: Sat, 07 Sep 2002 07:28:58 -0600 Subject: Re: [CR] To ride or not From: "Steven L. Sheffield" <stevens@veloworks.com> To: Classic Rendezvous <classicrendezvous@bikelist.org>
on 09/06/2002 05:08 PM, GPVB1@cs.com at GPVB1@cs.com wrote:
> Tom:
>
> I hear you to some extent, and please ride whatever you wish, as everyone
> should, but the "vintage stuff costs more" argument is a fallacy. A new
> Ti-framed STI- or Ergomatic-deluxe-equipped bike costs, what, close to $4K?
A
> beautiful vintage Colnago (just to pick an example, your actual preferences
> may vary) costs maybe $1500, and will appreciate over time if reasonably
well
> maintained (which is quite easy to do). An NOS Campy NR rear der. costs
about
> $125, whereas a new Record-Ti one costs maybe $225? Let's not even talk
> brake/shift lever prices - $300 "new" versus $100 NOS "vintage."
And Steven thought aloud:
>
> A beautiful vintage "used" Colnago ....
>
> I'd be willing to wager that e-RICHIE's Masi GCs each ending up costing well
> more than what he charges a client to build a new Record equipped bike.
>
> I'm sure you're all familiar with the story, but if not:
>
> http://www.richardsachs.com/
>
> Steven L. Sheffield
> stevens at veloworks dot com
> veloworks at mac dot com
> aitch tee tea pea colon [for word] slash [four ward] slash double-you
> double-yew double-ewe dot veloworks dot com [four word] slash
>
Steven:
Not necessarily true, but your point would be...? You need to compare apples-to-apples. Any new bike becomes a mint used one the minute it's ridden more than just around the block a few times. It then compares directly to a mint used vintage bike.
100-point restorations are often done for nostalgia's sake (among other reasons), and the product of that project is almost never worth (monetarily) what is put into it - that's not usually why the owners undertake the restorations in the first place.
That said, as far as I know, it is difficult to spend more than $1000 on a '70s race bike frame restoration, unless significant rechroming or tube replacement is involved, in which case I generally wouldn't recommend the project be pursued in the first place (allowing some latitude for "historic" value). After all, the new stuff works better anyways, so why bother?
An NOS '70s Campy NR or SR parts group currently sells for about $1500-2000, depending on its configuration (e.g. how fussy one gets regarding dates on components, etc.). Figure another $500 or so for additional parts, and it's hard to top expenditures of say $3500 for a stunning 100-point restoration from a bare frame and fork. My guess (e-RICHIE, Brian, and other fine artists/craftsmen can certainly confirm or deny this) is that even including the cost of the restoration candidate, this is still less than a turnkey 10-speed Record-Ti-equipped RS, BB, or other top-flight (pick your fave and insert here) racing bike out the door.
All of this matters not very much, as my points were that you can currently purchase a mint-original-condition top-of-the-line '70s racing bike for less than half the cost of today's equivalent new Production bike, it will likely surpass the depreciated value of the "new" bike in a few years (we can argue about how many years it'll take if you feel that's worthwhile; it certainly can be longer if it's not a volume-Production bike, for example...), and that the replacement parts in many cases cost less for the vintage bike as well. Do you agree with those three statements? If not, that's fine, but please cite solid, factual examples to support your position.
Regards,
Greg "sometimes it IS rocket science" Parker A2 MI USA Home of the NMRC (narrow-minded retrogrouches' club)