Cannondale: can somebody give me more information on this bike?

The previous post to your question left me scratching my head. . $55.00 for an SM 500 is an insult. If this poster has an SM 500 they will trade for my cheaply made $50.00 flea market Huffy mountain bike, I'll gladly take it. The SM 500 is a well made, lightweight aluminum frame bicycle with better components than you will ever find on your average 50.00 garage sale bike. It is easily worth $150.00 and is a keeper.

It's definitely not a cannondale. the parts don't look too bad. $150 seems steep for what it is . I would say $75 would be a better price. A Peugeot PX-10 is a nice bike, but if it is rusty and needs work, it will end up costing you a LOT more. Once more thing, any time someone on craigs list says a bike needs a tune up, expect to have to replace the chain, cassette/freewheel and cables as a minimum.

roughly made in 1985 or right in there. What you have is a Museum peice and although a cut above in its time it would be worth little by todays standards and would have cost approx. $500 or so in its day which at the time was quite pricey. Likely an aluminum frame and worth less than its steel counterpart (I believe they made this one is a steel frame too) I personally think you overpaid for it (2 times too much) but if it works for you then you got a deal?!

Depending on condition of course....

Cannondale Sm500

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No, it is a Univega! They were eventually bought up by Raleigh's parent company.