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Sure it's worth something. It's worth fixing up and riding. If it doesn't win the Guinness world record for tallest gooseneck and you really don't want it list it on Craigslist for 150 bucks and take the first 80 or 100 dollar offer. Or trade it for some whiskey to help ease the huskers loss to CU today.
Personally I would sell the rack and toss the remainder of the bike or make it into a lawn ornament. To me the rack looks to be the only item of any value there.
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