This auction is for a Vintage Schwinn built Spitfire Hornet balloon tire bicycle.  This bicycle was dated to June 17, 1952.  (serial number also matches a date from 1957).  This bicycle is a little rough - missing paint on the frame, red is fading to orange, scratches, scuffs.  The fenders are also scratched and dented and slightly mangled.  The chainguard is starting to show lots of wear, dents, scratches, and mars.  Hubs will need an overhaul to be road worthy (and to stop).  Missing some spokes also.  Not rideable.  Needs a good tuneup. 

Overall appearance is slightly underwhelming, considering the amount of time necessary to bring this puppy up to show level. 

This bicycle was built by Schwinn but badged as a Spitfire.  Almost an exact twin to the Schwinn Hornet from 1952, this one has the feathered chainguard paired with a skiptooth drivetrain.  Also notice that the fenders are a solid color with only a few pinstripes - no white large arrows/triangles. 

Headbadge is in good shape.  Reads Schwinn Spitfire.
Missing front light.

All chrome is in rough shape.

Mirror and wald front basket are both included. 
Rear rack is not quite original to the bike.  Not quite the right fit or right color. 

Measurements:

Seat Tube - 18"
Top Tube - 23"

Stand-over Height - 31"

Specifications:

Saddle - Person's saddle, needs a recover but the springs are in good shape.  There is even a nice handle off the back of the saddle bolted to the seat frame.

Stem - rough chrome

Handlebars - 22" wide with rough chrome

Crankset - steel 1 piece Schwinn built cranks with the 5 heart design skiptooth chainring

Pedals - steel block pedals with the blocks...

hubs - Schwinn front, New Departure Model D rear hub
rims - Schwinn S2 rims, painted white with black pinstripes, missing some spokes

Serial #C52102

Reference #85015