Man, I love this bike. I suspected it was earlier than '52 though and it indeed is. I'd say it's an early-mid 1948 bike. The serial on the BB signifies pre-52 and the number can be partially tracked backwards from the late '48 numbers that were after the fire. 1947 would have had drop center rims so 1948 seems most plausible. It even looks like you may have non-knurled rims? Sign of first year S-2s.
JP...the rims are non knurled.
A specialized or higher priced model could easily sit on the dealers floor for several years, possibly eventually discounted on the spot to get it gone.
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