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Do you perceive it as ridiculously overpriced? I understand the guy put a lot love in it and, I would think, if you're in the market for such and you encounter such, I doubt whether you have to do a lot of thinking on whether the price is right. You simply pay. It is not that much and they do not come up that often? - do they? I would make myself believe "quality will be remembered long after the price is forgotten" and probably pull the trigger.
I have to admit I am not expert in Raleighs in UK. I am wondering: sits there a gap between how UK vs the rest of the world look at Raleighs?
I do think the bike I linked to is a little overpriced - it has certainly been on ebay for a long time (couple of years I think) with that price tag. Don't get me wrong, it's a lovely bike, but 24" lo-pros are very niche - it's such an extreme position that a lot of the people who saw them race would now I think find it impossible to ride them. I also think the fixie kids find them too extreme so bikes like this have a very narrow market appeal.
I'm a big Raleigh fan btw, though from a few years after this. If it was a replica of Laurent Fignon's 1989's TT bike I'd be all over it!
I know the chap who's selling the second one, as I bought a Dave Marsh frame from him a while ago. Good professional seller.
BTW, the first one is almost identical to the one that Darryl Webster of Manchester Wheelers used to win the National 25 in 1985.
Actually, the position is not extreme at all. Although the front wheel is a 24, it doesn't have the fag-paper clearance between the tyre and fork crown. I borrowed one of these for a fortnight in 1986 and the position was more upright than on my Roberts lo-pro that had 700c front and back.