Could be some time!!
It looked like this when I got it but I would build it rigid.
https://www.retrobike.co.uk/threads/univega-alpina-racelite-550.464837/
I can roll it but it's also torn the steel in a very small area - thinking of rolling it and then brazing a patch over the top. It won't look great to many but it'll still ride just as well!
Later Alpina 550 18.5" on the label but measures more like a 20". 1 1/8" fork, no canti bridge, 3 bottle cages. FN: T0881735. (T is a best guess - looks like a T but with a curved top bar).
Edit. And crud catcher mounting bosses!
You're likely right @KeepItSteel
I have one with a 20" CTT seat tube and I thought it looked very similar proportions at the head tube but now I've put them side by side....
We have our next vict.... volunteer!
I was going to use the PO (unless you've got an aversion to your postie?) - £7 will cover the mainland postage from here. PM me and we'll sort out the logistics.
I think your about right on the valuation of parts (possibly a little more) if that's the way you want to go with it? I'm with you on it being nice to keep it together by the way
No harm in sticking it on eBay at £400 BIN with offers and seeing what happens though!
Nice bike!
Not sure you'll get a definitive value but in today's depressed market it might be disappointing - maybe £150-250 although happy to be corrected.
Unfortunately someone might buy it only to split.
What's your feeling on value?