The Schwinn Apple Krate was one of several Krate models marketed by Schwinn in the 1960's. This was a subdivision of Schwinn's Sting-Ray line, which was characterized by high handlebars and low-rider bucket seats inspired by motorcycles. Like all of the bikes in this series, the Schwinn Apple Krate had an upright five speed shifter located directly in front of the rider as well as a rear shock absorber and a small front tire. The name was inspired by the bike's flamboyant red color. In 1964 Schwinn put out a model for girls called the Fair Lady with a front basket and lighter color.
The classic shifter lever was banned in 1974 due to injuries, which ended the Apple Krate's reign. However, like all of the Sting-Ray bikes, the Apple Krate is now revered as an icon and restored models have sold for as much as $4,000. When fully restored, it also features a front drum brake and rear caliper brake as well as chrome-plated fenders and MAG sprocket.