Senior Member
Join Date: Jul 2010
Location: Metro Detroit
Posts: 858
Bikes: Bertoni Corsa Mondiale, Bridgestone T-700, Miyata 700 GT, Trek 600, Trek 560 Professional Series, Chrome Panasonic DX 2000, Peugeot PH12, Peugeot PX10, Schwinn World Voyageur, Schwinn Circuit, and Schwinn Voyageur
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Although this section is for classic and vintage bikes, I would like to help.
In my opinion, $400 may be a good price but I wouldn't pay it. $300 is more reasonable. If I recall, new models go for $750ish. The second owner doesn't receive the benefit of the warranty on the frame. For me, I would want to get less than 1/2 the value of a new bike (check with your shop--they may have one on closeout). If the bike has been ridden hard, it may need a new chain and cassette. These items could increase your cost by $50-70 (not including labor). I would stick to $300, and if they decline, save your money over the winter for a new one.