Well, after much "courting" I finally got the seller to send me a couple of photos and reveal the serial number of the bike, which I won't publicly post but will reveal to off-list queries.
Anyways, it's the same Paramount that was on Bicycle Trader for $15,000 a couple of years ago. You can see that ad here:
http://www.bicycletrader.com/
A direct link to that ad's photos here:
http://www.bicycletrader.com/
... and if you look at the original link for the craigslist ad you'll see a photo of the bike in its current state. Needless to say, the bike is not quite original nor would I call it a 1938 model.
Tam Pham Huntington Beach, CA - USA
PS: Who snagged the Paramount I was eyeing on eBay?! :-)
On 8/3/07, Eric Phillips <altinos@gmail.com> wrote:
>
> Not mine, no idea who it is. Something's missing from the ad...
>
> -----------
> http://detroit.craigslist.org/
>
> schwinn paramount 1938 - $25000
> Reply to: sale-388408066@craigslist.org
> Date: 2007-08-03, 12:01PM EDT
>
>
> 1938 schwinn paramount track bike - low number, mint condition,
> beautiful. price is starting bid and will sell to highest offer. Real
> collector please.
>
>
>
>
> it's NOT ok to contact this poster with services or other commercial
> interests
>
> PostingID: 388408066
>
>
> -------------------
>
> Eric Phillips
> Southfield, MI