• ^A couple more thoughts...
    Firstly if you paid €80 for a bike in that condition with campag dropouts and what looks to be pretty reasonable, period correct kit, you have a bargain my friend!

    Serial # is usually a good place to start when identifying a frame
    It's not so common to stamp serial number on the seat lug/cluster like that.
    Those lugs are relatively uncommon... Nutsjesmoar and I both have similar lugs on bikes that we own. Mine's made by Chas Roberts, he didn't get to the bottom of who made his, it was bought in the netherlands and badged as a LOOK.
    Here's some details of his...
    http://www.lfgss.com/post2918877-2298.html
    http://www.lfgss.com/thread90850.html
    and here's a shot of the lugs on my roberts...

    I think the lugs are bocama or prugnat and have been drilled by the framebuilder - this was pretty fashionable in the 70's as a means of reducing weight!

    The mudguard eye is also quite interesting, as it means that it's not a race frame. It could still be a custom-built clubman bike or a mass produced one.

    Given the fact that it has Gazelle decals on it, I'd suggest investigating whether it's a lower range (non CM) gazelle.

    I also have a fake Gazelle - it turned out to be a Bob Jackson.

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