I think a combination of "half retail" and "inflation corrected" is a good 
place to start. One might argue that inflation is not relevant, but I would 
argue that because Rivendell componentry and frame "technology" is 
basically unchanged between then and now, it's fair to include inflation 
for an apples-to-apples comparison.  A Rivendell shouldn't depreciate as 
fast as an average consumer bike due to their timeless qualities. They 
shouldn't appreciate in value either, because they are more of a tool than 
an art piece, but I think it's fair to get most of your money back out of 
one, even 20 years later. 

All this said and based on what I've seen similar era Rivendells go for, 
I'd suggest $1500 - 1800 is a fair price if it's in good shape.  I've seen 
them posted for less as well as a lot more, but I think that's about where 
you'll get a sale in a reasonable amount of time without undercutting 
yourself. 

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