The 'Bay can be a funny old place at times and the classic steel market is all over the place. Noticed a couple of Raleigh MTB listings (or should I say ATB given their age?) that finished today. One was a lugged 531 example from about '89, which admittedly wasn't common on those bikes, and the other looked like a really tidy '95 vintage with a field gate size welded 18-23 frame.
The 531 bike made a creditable but still modest £68, attracting 11 bids, but the 18-23 was shunned by all except a solitary bidder who picked it up for it's £20 start price. Either a London commuter got a very cheap station bike, or someone who actually likes old Raleighs got a super bargain fun ride. Either way it had to be worth £40-50 of anyone's money, especially as it didn't look battered. One-fifth of the cost of the cheapest, nastiest BSO's on the market!