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@shaws
This is a lovely frame, and might be worth 600 pounds to the right person. But I don't see the point in drawing comparisons with asking prices on ebay (not "sold" listings) that may be completely aspirational. 400 pounds for a frame that requires a new dropout and refinishing (never mind what other damage/misalignment might lurk) is just ridiculous. You certainly could not sell a repaired, repainted Somec for 700 or more pounds, which is what it would cost to buy that basket case and refurbish it.