Fascinating about your Competition! And great you still have it and ride it. When I got mine I was mid teens and racing as a junior in Ireland. It was second hand from a fellow club cyclist who'd saved up and imported an amazing Tommasini frame from Italy, Columbus tubing, chrome lugs, extraordinary cross hatch paint job, a true thoroughbred. I raced on the Competition a bit then it became my training bike after, again through the club, I got a used but in pristine condition Peugeot Perthus ( with 531 professional tubing- the red coloured decals). Gorgeous F&F, same as the Z Peugeot team raced at the Tour (Though the pro team bikes were 753 lightweight tubing). My other road bike when I raced was a Sean Kelly cast off, a Vitus glued aluminium frame. Very light. Kelly, as the canny farmer's son he was, would sell off all his team bikes end of season. My Vitus had probably 5 other club cyclist owners before I got it! That was the way back then, few cycling shops in Ireland stocked high end racing frames, everything came through word of mouth in the club or via friends, no eBay, no internet. Nobody used high end road bikes just for exercise back then, only people who raced or used to race. All the dentists played golf back then, not obsessing over carbon fibre €4000 wheels like today!
Bikes from that era look so 'thin' now; thin elegant steel tubes, thin rims, thin tyres, simple rim brakes not chunky disks, parts polished alloy not anodised black. Different times. Anyway google is great- I put Raleigh Competition 1987 501 in and out it spat my exact bike:
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