Well, in a sense, most of us have more money than brains, since we pay more for and invest more in bikes than we are likely to sell them for. This is probably true of most collecting hobbies. Many people think I am crazy for having my garage full of bikes and parts.
There are some on the list who make a living at this, but they have to operate with a much different mentality, buying only those items they intend to sell and believe they can sell at a profit. And I suspects even those members sometimes buy things at unprofitable prices to keep in their private collections.
So each of us must establish his own definition of sanity, or insanity as the case may be. Frankly, for me it would be insane to pay $2000 for the DeRosa in question. But that is because in my world view all high quality classic bikes are wonderful and fascinating, and I can buy 8 to 10 such bikes for $2000. But I don't buy into the Italian mystique and would just as soon have a Mercier or Peugeot as a DeRosa or Masi. Other people have a completely different view, which is why they don't own any Merciers or Peugeots, and why I don't own any DeRosas or Masis. The market is remarkably efficient at allocating things to those who value them most highly.
Obviously Charles Andrews believes the DeRosa is worth ten times as much as the somewhat scratched up but very sweet riding late 60's PX-10 I had the pleasure of riding for the first time yesterday after just acquiring it from a list member. He could never convince me of that, but then I could never convince of the opposite. So a purchase which would be totally insane for me makes perfect sense for him.
Jerry Moos Houston, TX
Dave Anderson write:
>"Always go to show, some people do
>have more money than brains! Hopefully the winning bidder
>doesn't read this
>email, as he probably has a Very Big case of buyers remorse
>Cut Bank MT"
You know, I find it curious that Dave and others are so amazed that someone would spend $2,000 for a vintage frame (considering what new frames cost these days) and it amazes me more that they would go so far as to insult him for it.
I mean, we are talking about our very own Charles Andrews here. Charles, who has such a wonderful bike collection and who has been so helpful on so many occasions to those of us with questions. Charles, who knows enough about restoration to have won best in show at this past year's Cirque. I think we ought to cut him a little slack, OK? It's his money, his frame.
Besides, he'll probably make back much of the cost of that frame (and have you all eating crow) when the DeRosa takes best of show (and all that fabulous prize money) at next year's Cirque.