Originally Posted by
rdtompki
While yoiu're saving up I would continue scouting Craigslist. I can't sell my wife's virtually brand new (<1000 miles) Giant OCR1 for $700 so I'm just going to keep lowering the price. I'm sure when I hit $500 I'll find a taker: message is that there are some good deals out there. The only reason we're selling the bike is that it simply doesn't fit my wife. We bought our bikes at a mass merchandise BS. Important Lesson: online I'm sure is fine if you know what you want, but I would really recommend a good LBS. Some of the money you save online will get used paying for fit adjustments, new stems, etc. I know I paid more for my wife's new bike at our LBS, but the relationship is important and I need to keep him in business.
In your case it would probably be more cost effective to buy a new frame that is the correct size and transfer the components, rather than taking a bath on selling the complete bike, then buying another complete bike. The only problem is that it is generally the higher end bikes that are available as framesets, so it may be more money, but it will still be a better "deal."