Broken frame, knackered paint, £300?
I think that we should try to lay down some guidelines about pricing, there must be a formula we can use. Doesn't the trade half the value of the bike for the first year and then take off 10% for every year old the bike is after that? We could use that and then allow a little lee-way for particularly sought after bikes etc.
Using that formula and a new price of £699 in 1991 (somebody correct this for me) the bike is worth £60. Factor in the crack and shoddy paint and you're down to £40, take into account that people are paying silly money for knackered old bikes... you might get £75.