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Can you provide info on this bicycle?

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So this is the garage sale bike you were talking about the other day...it's a late 30s Shelby built 'De Luxe' bike badged as an 'Air Man'. It's worth a lot more than the $250 you said the guy was asking for it. Definitly worth fixing up.
Would the serial number be under the frame by the crank? And is there a website to look up the date?
 
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