if its the Elix with the reynolds 531 frame, then it is a pretty good bike and its a nice classic.
There was one went on ebay for £70 back in march, see below:
http://www.ebay.co.uk/itm/Raleigh-Elix- ... 4d0a65f8dc
retro bike values are seasonal, they go cheap in the autumn and winter, and expensive in the spring/summer. since the sun finally came out in the spring i've noticed raleigh 531's are fetching alot more than they were in the winter.
you would have more luck selling it on here if you posted it in the for sale forum, and give some indication of your location, and some photo's of the bike.
on ebay they tend to fetch more money than on bike forum classifieds, but then there are ebay/paypal fees to consider.
i have a late 80's raleigh that i've had from new. i went off cycling for a decade or so but i always kept hold of the bike in case my interest ever resumed. eventually i got a job where i needed to use a bike and train, which got me back into cycling in a big way, and i am SO glad i never sold the bike. having the same bike i always used as a teenager - that feeling and the memories just cannot be replaced! especially for the measly £100-150 i might have got if i had sold it....
another thing to consider is if you wanted to buy a modern bike with the same weight equivalent as an 80's 531, you'd be looking at £400-500 (second hand). This is another reason i stick with retro's, i dont see the point in paying over £500 for something with only 2 wheels and no engine or aircon.
