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@TM
Wheelset - £275
Freewheel - £45
Chainset - £130
Bars + stem - £50
Seatpost - £25
Saddle - £40
Brake levers - £60
Brakes - £50
Pedals - £50
So around £675 in parts... Maybe less for wheels as the surfaces are worn...
They should be pretty fair prices for the parts in terms of what they're worth in this market place, generous in some cases.... Add them up and it leaves a quite pricey second hand frame, nice as it is, £1175 is a fair bit of cash.