A few weeks ago, I pawned my Forever rando. At the same shop was a very interesting bike. An NOS Phoenix/ Feng Huang step through from the 1980s' or so it was claimed. The light & dynamo combination was clearly a new addition.
Nonetheless the shop manager made much ado tapping on the fenders as if to prove they are a thicker guage of metal, and pointing our a detail on the crankarm, which was never clear to me. He and his assistant of course pointed out the packing paper still attached to the chain stays. Apparently the factory switched to plastic packing some time back.
So the 950RMB question is do I really think the bike is NOS? Yes I do. On the down post decal, there was one small area of sun-fading. As if the packing paper had been ripped off to inspect the brand , and then the bike was left in some sunny attic for a decade or two. I would say it is also nicely outfitted with twin rear reflectors, circle lock, Dynamo and headlight, a nifty seat color and a chaincase trim ring. These things would not make a new bike worth the 950 RMB the shop wanted, but for a bike of some age, sure. It just depends on how much the vintage is worth to you.