I think that many other bikes of this age, racing bikes with more prestigious marques or mystiques could fetch considerably higher prices. The fact that the Peugeot had what even back then had been considered lower tier (i.e. French) components rather than top end Campagnolo continues to diminish the general regard for these bikes - regardless of what may be said of the build quality.
Also, because of their lower original selling prices, Peugeot's consistently high volume of production and the comparatively good distribution network which Peugeot had quickly established in the US during the peak early 1970s American Bike Boom years, many many thousands of these bikes were sold. The white with black head lug paint and decal scheme had also remained very consistent for nearly a decade. So these bikes, even in quite nice condition, are still fairly common finds.
Perhaps a greater surprise than the $1,700 winning bid is how a blue 1963 PX10 , even in very nice original condition, could have sold for over $7,000 several years ago on eBay. The cost of the rarer earlier components such as the Stronglight Super Competition 63 crankset certainly could not account for this cost anomaly. Nevertheless, Japanese bidders went wild scrambling for that bike.
In the end, I think none of us will dream of ever becoming rich from collecting our favorite vintage production bikes. Collecting, riding, restoring and preserving our bikes is the entire satisfaction - for me in any case. Perhaps we should be pleased that there has not been a dramatic rise in the values of our bicycles. The more my own bikes are seen around town, the greater is the number of younger riders (often shop mechanics) who now have become appreciative of older steel racing bikes. The availability of top range 1970s bikes for an affordable cost keeps the collecting and cherishing of good quality bikes of the day accessible for many new and future enthusiasts. This allows some of the more discriminating CR list members to focus on seeking out and restoring those more uncommon makes and models which are seldom seen, while at the same time there can be continued generations of enthusiasts for whom their own quests may remain within affordable reach. Perhaps I should hope that my own bikes will never become "too" valuable.
Bob Hanson, Albuquerque, NM, USA
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