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Guy Bought Rare Schwinn Bike for $350, Found Out It's Worth $100,000 - and Now He Wants to Give it Away!

Tom Mault bought this bike for $350 and later found out that it was a wise purchase: the bike is a 1963 Schwinn Sting-Ray bike, one of the first of its kind off the line.

And Schwinn collectors have offered him up to $100,000 for the "rare piece of American history" - Tom, however, had another idea:

Bike collectors from London to Japan "flipped out," Mault says. By 6 p.m. Thursday, his online posting had been viewed almost 1,900 times, and people had offered him between $2,000 and $100,000 for the bike.

The catch, he says: It's not for sale.

Mault, who owns roofing company Tidewater Exteriors in Hampton, says he would rather donate the Sting-Ray — one of the hottest American icons of the 1960s and '70s — to the Smithsonian Institution in Washington.

Link - Thanks Mowog!


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Been in this shop, messy, disorganized... just another shop where details fall through the cracks. But they are one of the few shops that advertise that they have a president! Not an owner, a president! Hey how about sending these two dorks to Washington instead of the bike, they would fit in great. They have no concept of the value of their assets, they screw over their clients and are completely out of touch with reality. Re-election would not be a problem, just ask Bush!
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This item is a true "don't expect the experts to know what they are doing" story. Vintage Schwinns are going up in value everyday and the shop where this bike sold should have done the research to let the original owner know what he had. Both they, and the owner would have profited greatly. Their main mechanic, a guy named Mike Love, who says he's been in the business for over thirty years, should have known that this bike was special. Dude, might be time to consider a another "career", you just don't have the intelligence to make a go of this bike thing!
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wow i met the guy who bought the bike 'Tom Mault' very cool guy he did donate the bike to smithsonian with the permission and blessing of the original owner !! so why badmouth someone if you dont know the facts ?? would youve done something like that or took the money and ran? i guess everybody isnt motivated by money and greed ,,,2 thumbs up way up Tom your my hero..
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