- What do we have here?
JOEY: A nice little Schwinn bike for you.
What do you think?
I think it's seen its better days.
Obviously, you didn't buy it new because this thing
is older than you are.
Actually, this thing might even be older than I am.
[laughter]
Doubt it.
[bell rings]
JOEY: I don't really know much about the Schwinn bikes.
I know that, back in the day, they were popular.
I got the bike from my grandfather's garage.
I picked up the bike because I wanted
to give it to my girlfriend, but she looked at it in disgust.
So I figured I'd sell it and get a couple of dollars for it.
This thing is definitely cool.
Schwinn came out in, like, the late 1890s,
and they just made really good bikes.
This came out in, like, the early '60s.
The Fiesta was, like, their highest-end girls' bike.
What they were going for was durability, reliability.
They weren't going for lightweight, high-speed bike.
Look at modern bikes, like mountain bikes and stuff
like that.
I mean, they're just built for speed.
There's no style involved.
This had style.
Schwinn was the iconic American bicycle brand.
When you thought of bicycles, first thing you thought out of
was a Schwinn.
Some could go for over $10,000.
It all depends on the model when it comes to Schwinns.
So what were you looking to do with it?
I was thinking--
thinking I'd sell it for a few bucks.
$300, I was looking for, at least.
Nope.
JOEY: No?
This is the whole thing.
As far as the collector market goes for bicycles,
it's usually guys, and they buy the bikes they were
riding when they were kids.
So boys' bikes are worth a lot more,
and this is a girl's bike.
I can maybe get this thing restored.
I'm going to show this to my guy.
And if he can redo this thing for a decent price,
I'll probably sell it for $700 or $800,
but I'm hoping he can do it for $200 or $300.
So I will give you $80.
JOEY: Man.
$250, at least?
No. I'll tell you what.
I'll give you $100.
I'm not going to go no more.
All right.
I'll give it up for $100.
All right, sweet, man.
JOEY: Appreciate it.
I'm going to take the $100, give my girlfriend a gift,
and say sorry for that trashy bike
that I tried to give her before.
I'm hoping I can get it restored and make a few bucks,
so I've called Bob down to take a look at it.
This is it.
What do you think?
BOB: It's not in bad shape.
Let's bring it over here and see if we
can put it up on the table.
Here we go.
It's a Schwinn, so it takes two people to lift it.
BOB: OK.
First of all, it's a girl's.
And the girls' bicycle market is really down.
But this was part of their top of the line.
They had the Debutante, the Deluxe, and they had this.
It's a cool bike.
So can you fix this thing up?
BOB: Of course I can fix it up.
I can this look great.
With a lot of chrome work.
1, 2, 3, 4, 5, 6, 7, 8, 9--
10 pieces of chrome.
They'll look fabulous when it's done.
They'll look absolutely outrageous.
We'll strip down the whole bike, repaint it,
re-stripe it, replace the seat.
And all that will cost you only $1,400,
and then you'll be able to sell it for $700.
[laughter]
So I bought it in mind that it might be a parts bike,
so apparently it's going to be a parts bike.
BOB: Oh, yeah.
You'll do a hell of a lot better.
You know, you've got stuff like this original rack here,
the original light, the tank.
You should do real well.
You'd do much better than if you fixed it up.
Well, thanks, Bob.
BOB: Hey, good luck with it, Rick.
Have fun with it.
That bike would look bitchin' if we restored it.
It would bring back a lot of memories for girls
who used to ride that bike.
But at the end result, it's only worth $700.
If Rick stripped that down and sold it in parts,
he'd do pretty well.
He could probably make about $300, $400 on it.
I tried.