Join Date: Aug 2001
Location: SE Florida, USA aka the Treasure Coast
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Used bikes are tricky and subjective. Check out the "Catch of the Day" thread and you'll see scads of quality bikes found for 50$ or less. Heck, a guy found a Masi and just sold it for $500. However, not all communities have great used bike supplies, mine certainly doesn't. So hearing about all the great $10 bikes doesn't help if you can't find any of them.
OTOH a clean 400 series Trek is alot better than anything new in that range (I can only think of 1 or 2 ~300$ new bikes). If you buy it and use it as described you'll see a good return on your investment and that's sometimes all you can ask for.
Definitely negotiate before buying though. That's a top $ price and I doubt people are lining up to buy it. Start substantially lower.
“Life is not one damned thing after another. Life is one damned thing over and over.”
Edna St. Vincent Millay