Who is going to paint it? Personally I think you should sell it as is and leave a blank slate for the next owner. What is it worth now? $250? $300? If you sink $400+ into a professional repaint can you realistically sell it for $700+?
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk