People who argue about costs, values, prices... MONEY, are usually only in it for money... They care more about the money into and or out of it than any other aspect of collecting. Sad but true. Please don't spend too much time thinking about what it's worth, rather ride it and ENJOY it. Or stare at it, dream about it, love it, smell it, feel it, talk to it and put it to bed at night. Because as of right now, it's only worth about 400.
The original poster asked about the value on the bicycle for insurance purposes. We're simply replying with our opinion. That doesn't mean we are only into the hobby for money.