Re: Is it worth it?
I'm not that familiar with Western Flyer bikes, but say it was a Schwinn or Elgin, Colson... in that condition I suppose it would be worth the $500.00. If you were to restore one and had to buy the fenders, find a chain guard, re chrome the handlebars, etc. it adds up fast. That one is for a collector. It would be a shame to put a motor on it in that condition. But I can sure see it with a motor... one in rougher condition and brought back to life as a motorbike. Old mens' cruisers are pricey, but they sure are nice.
Someday when I grow up I will probably lose interest in toys with wheels, but until then...