Touring - Asking Price?

I now own three Trek 520s which is at least one too many. Looking to sell my 96 and I need suggestions on a fair asking price. It's stock, in very good condition with new Conti top touring 2000 tires. Has some minor hanger rash from being stored in the garage for 7 years but has never been dropped. I'm thinking somehere in the $500 to $600 hundred range? Whatda ya think, too much, not enough?

How much did you pay for it?

Have you upgraded it in anyway aside from the new tires?

I find it's often hard to get much more than half of the original price when selling something unless it is in unusually good condition, and is a desireable item, and maybe if the price of a new item is now considerably higher. For example, I bought a Trek 1000 for about $600 and added a rear rack to it. A few months later I realized I'd rather have a Trek 520. I thought I could get about $475 for the 1000, since it had only about 350 miles on it. But the local price for the 1000 was down to about $500 at some local shops, so I could only get about $325 for the bike.

I paid $1000 for my 520 in 2003. An 8-yr old 520 would have to be in really good shape before I'd consider paying even $400 for it. If it has the original wheels, and they show a lot of wear, I'd go even lower.

NOTE: I'm not criticizing your idea. I have a hard time figuring out what to ask when selling used items, too.

Before I bought my '04 Trek 520, I almost bought a 2001 model for $420. It was in decent shape, althought it needed new bar tape and tires; it even had a Brooks saddle. The guy was buying a new model and wanted to part with it for space. But I wanted a new one so I could wear it in my own way, and provide my own character, stories, and scratches myself; besides it was a gift from my wife. I think bradw has a good point about price.

Thanks for the input. I'm totally lost as to how to price this bike. On the plus side it's in really good shape. Because it never fit me it's seen very little use, has never been ridden in rain and the tires which still had the new tire nubs on them were replaced only because of dry rot. On the negative side it is 8 years old and new ones can be had for about $900, which is what I just paid for a new one. The really good news is the new one fits! I think I'll try asking about $500 for it. Like the old sales adage says, you can always come down in price but you can't go up. We'll see what happens. Thanks

What size is it?