The new company produced a series of well-regarded mountain bikes bearing the Schwinn name, called the Homegrown series.[62] In 2001, Schwinn/GT declared bankruptcy. In the 1950s, Schwinn began to aggressively cultivate bicycle retailers, persuading them to sell Schwinns as their predominant, if not exclusive brand. During this period, bicycle sales enjoyed relatively slow growth, with the bulk of sales going to youth models. In 1900, during the height of the first bicycle boom, annual United States sales by all bicycle manufacturers had briefly topped one million. By 1960, annual sales had reached just 4.4 million.[10] Nevertheless, Schwinn's share of the market was increasing, and would reach in excess of 1 million bicycles per year by the end of the decade. Sometime in the 1970's, the Schwinn Chicago factory was organized by the United Auto Workers union, who felt that bicycle factory workers should be paid on the same scale as automotive workers. Our customer experience team is ready to answer any questions. Check out our full line of electric bikes and accessories. Best Road bike shop in Naples without all the snotty attitude at most others. The Sting-Ray[28] sales boom of the 1960s accelerated in 1970, with United States bicycle sales doubling over a period of two years. The businesses being acquired from Canada's Dorel, which also include GT, Charge, and the Brazilian brand Caloi, have annual sales of $1.2 billion, Pon said. Starting in 2005, Schwinn also marketed Motorscooters under the Schwinn Motorsports brand.[69] Production ceased in (approx). The overall value of a Schwinn vintage bike will vary based on its condition, age, and scarcity. Irrespective of their age, most Schwinn cycles in good condition retain their value for a long time. As always, the Paramount spared no expense; the bicycles were given high-quality lightweight lugged steel frames using double-butted tubes of Reynolds 531 and fitted with quality European components including Campagnolo derailleurs, hubs, and gears. The Paramount series had limited production numbers, making vintage examples quite rare today. Other road bikes were introduced by Schwinn in the early and mid 1960s, such as the Superior, Sierra, and Super Continental, but these were only produced for a few years. The Varsity and Continental sold in large numbers through the 1960s and early 1970s, becoming Scwhinn's leading models. By 1957, the Paramount series, once a premier racing bicycle, had atrophied from a lack of attention and modernization. Aside from some new frame lug designs, the designs, methods and tooling were the same as had been used in the 1930s. After a crash-course in new frame-building techniques and derailleur technology, Schwinn introduced an updated Paramount with Reynolds 531 double-butted tubing, Nervex lugsets and bottom bracket shells, as well as Campagnolo derailleur dropouts. The Paramount continued as a limited production model, built in small numbers in a small apportioned area of the old Chicago assembly factory. The new frame and component technology incorporated in the Paramount largely failed to reach Schwinn's mass-market bicycle lines. It means that any bicycle more than 50 years old in a good or fair condition is likely to attract interest from other buyers. It also means that old Schwinn bikes before 1975 will be of greater value to collectors than a newer bike. Similarly, if the bike is scarce, such as the 1934 triplet or the Aerocycle, it may be priced in the thousands of dollars on eBay. However, there were clear warning signs on the horizon. This item is offered by one of our Exchange Plus partners – a trusted, third-party company that ships directly to you when you order on ShopMyExchange.com. The Exchange sells and handles payments for this item, and you can track the status on your Exchange order details page. Mark Smith has a nice page about his Schwinn bikes , also some good Schwinn Repair and Restoration tips.