Slam That Stem.
Join Date: Jun 2010
Location: Brooklyn, NY; Portland ME
Bikes: Quattro Assi DBS, Cannondale XR800, Felt Breed
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Think of it as buying the frame, fork and components, which all look good. Plenty of steer tube left to adjust for fit. You should try to talk him down to around $650-700, as most people selling used bikes on CL will throw well used wheels on there; budget for the fact that you'll likely want to replace the wheels within a few months.