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Redline Signature Mini - $80 [asking price]

This is the John Purse signature model from 2001. It retailed for $240 and has all the extras like slimline pad set, alloy bars, rear V-brake (instead of a cantilever) and genuine Comp II tires.

The bike was (lightly) ridden for two years by my then seven year old son and always stored indoors and well maintained. The pad on the top tube is peeling off some (they are adhesive pads) and the rear tire has one skid mark on it that is pretty much through the tread but it still holds air and is safe to ride. The pedals are also scratched from the bike being dumped on its side.

Why am I giving this up? My son has grown and is now on an adult mountain bike.