My .02 on this subject: I have four Paramounts from 1962 to 1973. The first, a 1972 P13 in mint condition, was found in a Schwinn store in Astoria Oregon. By a friend about 13 yrs ago. I never asked him what he paid for it but it was my size and I gave him a Dura Ace 7-sp group for it, about $600 my cost. The second was a 1965 track bike with all original parts including con denti pedals and Scheeren Standard rims. I paid $700 for that, then added an inch pitch drive train setup that cost me another couple hundred, and some Clement track silks. Then I got a mint 1973 P-15 in a three way deal involving 5 bikes that cost me less than nothing. I ended up with $400 in my pocket. But I would have had that for $800 if that was all I bought. Then on ebay I bought a doggy 1962 P-12 with about half its original parts for $137. Sold some of the parts for about $90, then built it up into a nice fixie commuter. Three of the four are close to mint, though not unridden like the ebay chrome one, but still very nice I think. I shop carefully and pick out what I think are the best values. They come in all prices and conditions. If you can judge the condition and consider it a good value, go for it. The $2500 one is there for someone who does not want to do the research or any restoration. For that guy it will be a bargain.
Bob Freeman
Seattle