I bought a Gazelle Formula Race 501 yesterday.
I have stripped it back to the frame, there's a bit of bubbling here and there, but nothing serious. I'm going to get a quote from Dave Marsh's shop on a repaint. The cheapest option would probably be a single colour finish with Dave Marsh decals. Is it a bad idea not to have the Gazelle decals put back on?
The bike came with a Mavic Starfish 42/53 172.5mm chainset serial (8908AA) which I am thinking of selling, it's in good condition with a few scuffs, all threads and tapers are undamaged, it is missing the engine turned dust caps though. Any ideas how much this is worth as there's not many been sold on ebay?
The groupset was Campy Chorus 7 speed with graphite finish rear mech and 28.5mm band-on front double. I am thinking of selling this also and updating to a 8 Speed STI Sora or 2300 shimano. Would the old mechs and downtube shifters be particularly sought after? They are all in excellent condition.
The hubs are Shimano 105. The rear has a 7 speed 13-23 Uniglide cassette, are these particularly collectable? I intend to replace the wheels with the ones from my other road bike as the OLD is the same at 130mm
The brake levers are Modolo with plastic levers, these will obviously go also if I change to STI.
Pedals are PD-1056 Shimano Look compatible, also will go in favour of some SPD-520s
Hopefully the sale of the retro stuff will cover the cost of the new stuff. The whole bike only cost £57
It would be a shame not to refit Gazelle graphics and I'd urge you to source some rather than go for the painters own.
Pearl white is notorious for discolouring, at least many of the pearl white Gazelle's I have had have started to yellow so I can understand your desire to respray.
Mavic Starfish is quite desirable and I would expect to easily fetch £50 - £60. Does it have a Mavic bb too cos that could be worth another £20 or so.
A graphite Chorus rear mech is fairly well sort after especially in nice condition. Not sure on value but would ballpark it at £40 - £80 depending on who is looking. Always best to start high and drop accordingly. The other parts I don't think were unique to the graphite group (correct me if I'm wrong) and I'd expect to achieve something in the region of £15 for the front mech and £20 for the gear levers.
7 speed uniglide cassettes are hard to come by (are you sure its uniglide?) collectable? Not really but can be sought after although do have a low ceiling value. If it is uniglide you'd be better of just selling it along with the wheels which I'd expect to achieve about £60'ish.
Brake levers are nigh on worthless pehaps £5 - £10'ish. Calipers look like 105 and may see you £20.
Hope that helps. Please don't take my quotes as gospel you may get more or less than what I have said. All in all what you paid was a bargain and what you have planned seems pretty feasible.
Oh generally a 7 speed hub will have an oln of 126mm maybe worth rechecking the spacing although it will easily spring to 130mm anyway.