i'd buy it in a moment, that bike is kool. make it into a single speed or keep the 3. put some lite stuff on it an ride the wheels off it while showing up the roadies.lol
They are actually called Pierce only, I recently seen about 8 mens/womens and 2 tandems at one of my "Finds" they have a great looking badge. They were made by the Pierce Arrow motor car Co. Easily worth the $75. one that I saw even had a shaft drive
I've seen bikes with the Cadillac brand, John Deere, Lamborghini, etc. In most cases, it's just a matter of the owner of the name licensing it out to a bike maker, and the name owner doesn't necessarily have anything to do with the making of the bike. And, as far as I can tell, they're usually not the least bit more valuable because of the name. (I saw a lady yesterday riding a Dr Pepper bicycle, for example). Buy if you want, but don't pay anything extra just for the name- buy for the bike.
I had a Pierce Arrow Road bike as a youngster. It was a handme down from my brother who bought it about 1967 or 68. It was a pretty nice for the day 15 speed road bike. I don't think they were related in anyway to the Pierce Arrow car/bike manufacturer from the turn of the last century.
The bike in the add is a sixties bike and the fork is bent.