Actually, this is a marvelous example of a way to estimate the valuation of PAINT. Even rusted paint!
The bike obviously did not sell as an Alex Singer, as a true Alex Singer would have sold for 800 euros or more. As stated in an earlier message, this bike was worth no more than 40 euros.
Therefore, the value of the paint is : 200 - 40 = 160 euros. Since 160 euros would get you a raleigh competition with all the parts of a singer except hubs (and therefore, virtually free frameset and paint!), we must conclude that Alex Singer paint is the real source of intrinsic and lasting value in these mid-70's bikes! Even discolored and rusted paint 20-40 years later on the wrong bike - is worth 160 euros !!!
- Don "paint is everything" Gillies
San Diego, CA, USA
:-) :-) :-)