I think I agree that you could find a better deal. Not to say that I haven't seen people asking these amounts (or more) for similar bikes. In addition to craigslist egotists, I called Bikes not Bombs in Boston and they were asking $350-450 for a decent old steelie. Granted they are a good non profit and refurb them fully, but I still find that a bit nuts. But Boston is a bit nuts about their old bikes. Not everyone is lucky enough to find a great bike for under $50 (does happen) but I'd think you could get something under $175. Like Zen said, be careful about older French bikes- the parts are expensive.