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nice, I'd grab that... so '71 is the last year for the two-tone seat? I have a girls' frame '68 in that same brown with a two-tone seat, but the seat seems to have faded to a greenish color (unless it's just that at some point someone swapped on a seat off a green bike)...
 
The seats for the brown ones look an olive green color, not quire brown...i think that last year for the two tone seat on the collegiate was 68...
 
Ran across this ad on craigslist. It is too far away for me to go and fetch, or I would snap it up. It is a late 70's one owner Collegiate 5 speed that looks like it is in great condition. Location is close to St. Louis.

http://stlouis.craigslist.org/bik/5706457570.html
You can simply copy and paste a photo off wherever, thusly.

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OK that's really not all that bad considering it looks to be all original and with good paint, chrome and decals. If you like the bike I'd say go for it. Personally I'd try to get $25 off ($125 total), but I wouldn't consider that a deal breaker.
 
I'd say that's about top dollar--at least where I'm at. If you are buying it to keep and ride maybe not a bad deal. If you are buying to flip I ain't see'n much meat on the bone. V/r Shawn
 
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