Copied from: http://www.vintagebmx.com/community/index....&hl=morales
Morales flatland frames came out in 1994, not earlier. Only the prototypes were out around late 1993.
The bike pictured here is either a 1994 or 1995 but it's definitely first generation judging by the rear drop outs & un-capped chainstay/seatstay tubes.
It's "special" or significant frame to those who kept riding flatland throughout the 90's and got tired of crap frames breaking all the time. Morales was one, if not the first next generation frame specificly designed for strictly flatland, unlike many other companies who kept on putting out all-around freestyle frames, more or less.
What's it worth? You would think by now the answer is clear. It's worth whatever someone is willing to pay for it. That's what it's worth. If you need figures, well i've seen a Morales frame go anywhere from $50 to couple hundred, depends how badly someone wants it, what generation it is and what condition it is in. First generation (1994 & 1995) and second generation (1996) frames are harder to come by whereas third generation frames (1997 & 1998) are much more common. People confuse these all the time.
Here's some more info i have compiled:
* 1994 and 1995 should be identified as FIRST GENERATION.
Both years are IDENTICAL in design but the difference is in the colours. The '94 came out in black and chrome ONLY whereas '95 model came in multitude of powdercoat colours. Chainstay and seatstay tubes are OPEN at the drop outs. Serial number is located on the OUTSIDE of the left drop out and is not consistent. Meaning, a lower number is not necessarily older than a higher number. This applies for both 1994 and 1995 from what i've studied. Die-cut frame decals. ROUND, die-cut small Morales "M" decal on the HEAD TUBE and on the SEAT TUBE. No coaster brake tab.
* 1996 is SECOND GENERATION.
CAPPED chainstays and seatstays, stamped with the Morales "M" logo. Fatter top tubes as well as chainstays than what was on the '94 & '95. Steep elevated wishbone notorious for creating troubles when fitting a small (32-28T) sprocket as the chain would drag on to it. Welded-on serial number plate located on the INSIDE of the right hand side drop out that should begin with a letter. Printed frame decals on clear decal film. Vertically stretched "M" logo decal on the head tube, "MF Morales Freestyle"crest on the seat tube. Absolutely NO COASTER BRAKE TAB.
* 1997 is THIRD GENERATION.
Appears to be the most common Morales to come by. Apparently, also known as the "powerty edition". Has 14mm DROP OUTS and a COASTER BRAKE TAB. They lowered the wishbone compared to previous models so that small sprockets would fit. Serial number located on the INSIDE of the left hand side drop out. Typically four digits. Came in various colours including candy colours over chrome, solid colours and raw (unfinished) with laquer. Fat top tubes just like on the 1996 and capped chain stays and seat stays with "M" stamp. Has an additional single cable barrel placed underneath the top tubes, right behind the head tube. Printed frame decals on clear film. Stretched "M" on the head tube, "MF" crest on the seat tube.
* 1998 is FOURTH GENERATION.
If it has 1.1/8" headtube, it's fourth generation. Otherwise same design as 1997.