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@Tenderloin
'So someone could now buy that off you for £100 or would you value it at more?'
Well that's hardly a valid point, if you bought a house in 1996, did it up and sold it in 2006 you would hardly sell it what it cost you in '96?
What DMC's bike conforms to your challenge. I do think it's hard to do, but Ed bought a cheap track frame the other day, that I would imagine he could turn into a 'porn' worthy build for less than £200.