Crang

I have the opportunity to buy an Allegro from the original owner. He says he bought it new in 1972, rode it a few years, and put it in storgae for 40 years. Its covered in dirt and I assume needs all consumables replaced. The decals are coming off but the frame looks like it may clean up OK. He says its a full Campy Record Groupset but Dura Ace brakes. I have not seen it in person yet. The asking price is $500 and I assume thats too high but having a heck of a time coming up with what Allegros are worth. Not looking to lowball the guy but a fair offer is my top price lol. Some pics:

bikemig 

$500 is more than I'd want to pay for this bike given its condition but generally speaking $500 for a quality frame like this with a campy group plus dura ace brakes is around FMV. I'd offer $350 and negotiate a price somewhere between the seller's asking price and your initial offer.

If the bike fits you, this is a heck of a nice bike with good bones and parts. It will take work to get it rideable and presentable. The TA water bottle cage is a small plus as well.

juvela

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3alarmer

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...there was a time when I would pay $500 for a nice, intact project bike, with all the components present. Sadly, that time is in the past. It's become difficult to sell a completed project bike for much more than $600 lately. If you were selling parts and frames on ebay, it would probably pencil out.

Crang

OK- that all helps. $350 was the number I had in my head as well. It is my size and it would definitely be for me to ride. All he can say is no.....

3alarmer

... Sactown_Albert has a restored Allegro that he rides here.

bikemig 

I suggested $350 as the starting bid given condition. Assuming that the seller is willing to bargain, I'd be willing to pay a bit more for this bike (say $400 or so). The condition is not great but this bike can be restored. I'm willing to pay a bit of a premium for a bike like this which is complete. Your biggest investments will be time and consumables. Plus vintage bikes of this quality and in your size don't tend to pop up all that often.

Crang

I realized the guy has 65 bikes for sale so must be a flipper. Not sure if that helps or hurts- depends what he got it for I guess.

xiaoman1 

OP,
Seller says he's the original owner and has 65+ bikes for sale.....either an avid collector or as you said a flipper. The bike has definitely seem much better days. Its hard for me to tell how good the paint is or the condition of the frame etc. If you like patina and no damage 350 might be alright, at 500 I would really need to like patina because a resto will be expensive ....is it just me, how does the fork look to others?
Good Luck on the negotiations .
Best, Ben

3alarmer

...FWIW, I will probably have 65 bikes for sale over the next 8-10 years, and I am not a flipper. But all mine are in better shape than that one, and get ridden, mostly.

xiaoman1 

Well said or sad........
Best, Ben