I got that wrong; mudguards will increase its value by 50%. Not bad value at £55.
Having collected it, it was dusty, 2 flat tyres, rusty chain, 3 brake blocks (?). That's apparently 'excellent condition'. Seller said that she 'hates bikes'; I'm not surprised if you try to ride them in that state. However, after a clean, lube, pump & fettle, it looks good, everything is straight, everything works, goes well & is very little used (2007 labels on SRAM gripshifters). Got rid of horrid suspension seatpost with built-in swivel, & worse seat with 6" of soft padding but no base to speak of (
) & replaced with standard Kona items from parts bin.
I think I might be riding it round town as well.