In a message dated 4/13/2006 10:31:32 P.M. Eastern Daylight Time, Charles writes:
After seeing the bidding on Richard Sach's restored Masi GC, I must confess to a bit of satisfaction. I also have one of these, with the early graphics, original, but extremely beat.
I was going to leave it original, clean up and ride. But it was always in the back of my mind to have it restored to my favorite dark metallic blue someday--a Masi color not often seen, but it was offered as a stock color.
Given my rather considerable investment in the frame, fork, and most of the original parts that came with the bike, I was thinking that having it repainted with correct graphics (something only Joe Bell has, if he still has some..) would be expensive, and thus I'd be upside down on the bike. Not that there's anything wrong with that, but it's a little humiliating to end up in that situation at any time.
Still, the frame I have is a little different from Richard's. Probably a little older, as it has the flat stay-caps. The frame is stamped M57, so a good size.
So, here's my question: just for the sake of discussion, if I had this frame repainted by Joe Bell, and I had all the right parts on it (some used, not NOS as on Richard's frame), what do you all think it'd be worth?
Btw, this is NOT a price troll, and I'm not violating the rules. I have my own idea of what it's worth; I'm curious to see what everyone else thinks.
I have no special reason to sell it, and I probably won't...but I have to wonder what the *e-richie provenance premium* is. 1K? 2K? 3K? What do you think?
Seems to me the more typical market price for one of these hovers around 3000 bucks, depending on the presentation and overall condition, but perhaps I'm undervaluing them.
Interesting to think that thousands of dollars rest on qualities that have nothing to do with the bike itself, nice as it is, but on the people involved with it.. hardly an unusual thing, but certainly provocative.
Charles Andrews SoCal
Charles;
It seems like there are several factors here that all came together at once and the e-Richie provenance is just part of it. Richard is certainly well known and respected and the story of the bike's restoration well-publicized, so there's no denying that this must have had a considerable effect on the price.
But I think there's more... I know I was fascinated by the lengths to which Richard went... he did not just find good clean parts to put on the bike, and he didn't even hold out for NOS parts... no, the "Period Correct" article says that most of the stuff he got was NIP, taken out of the box and put on the bike, just as if the bike was being assembled under the Vigorelli in 1971. Hard to picture a more fanatical way to put together a Masi, short of hiring Alberto to hang the parts himself like he did when he was helping Dad back in the day.
And finally, the bike's still a virgin. Seriously folks, how many of us after finishing such a project could resist at least a spin around the block? Richie resisted. You can holler all you want about how the real purpose of a bike is to be ridden and you can argue that you think there's an innate sadness to wall-hangers, but we all know what they say about the resale value of a new car once you turn the key and drive it off the lot. That hundred foot trip to the first traffic light will cost you a couple of grand, at least.
You put all that together and you see the value of the thing. For any other bike, I think your estimate of $3K for a good clean restoration that gets ridden once in a while is probably pretty close to the mark. Add perhaps another thousand or more for a very nice example in original paint (say like Jay's twin plate*). Or add two thousand or more for a "time capsule" bike (like the ones John had**).
Bob Hovey Columbus, GA
* http://www.theracingbicycle.com/
PS: Charles, I know the frame you're talking about and it's not that bad. I wouldn't think of repainting it, especially considering how nice the decals are. What if you just had the worst spots touched up, like the BB and near the shift levers?