Vintage Payan road/racing bike frame and fork made from Reynolds 531 steel.

Handcrafted frame (2065 grams including Campagnolo bottom bracket) and fork (646 grams) built from Reynolds 531 steel.
The decal indicates Reynolds 501 tubing, however this is inconsistent with the frame weight (too light for 501) and the seat tube internal diameter (26.4 mm).
Year of manufacture: 1979

Overall good condition: no dents, no impacts, no cracks.
Original paint in good condition with some minor paint chips

Seat tube: 50 cm (center-to-center)
Top tube: 53 cm

Rear spacing: 124 mm / Front spacing: 100 mm
...