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@pppp
it's worth what someone will pay for it.
bear in mind it's basically a low-end falcon mass produced from 'gas-pipe' tubing, so it will be heavy as fuck and the components are pretty shit. i picked up pretty much the exact same bike, but without eddy merckx decals down the tip for free about a year ago.
you can do a whole lot better for £120, that's for sure.