The flippers here in SoCal are driving me crazy lately. I went to look at an SR Gran Course a few weeks ago. Listed on the site as a "Shimano 200gs" bike. It should have been all 600 arabesque, but the front derailer was the the 200gs element. Both arraya wheels had been replaced with no-name non-matching wheels and the front crank had been changed as well. She wanted $75 and wouldn't come down so I walked. 2 weeks later, same bike - all the guy did was change the bar tape and he's asking $200 for it.
Today - Fuji Touring Series IV. Guy wants $220. It's clear from the pictures he didn't clean it up, the sprockets and derailers are all greasy, the tires are worn out, the cables are rusty - again the only thing he did to it was change the bar tape. If he had taken the time to clean it up and put a matching set of tires on there I might have given $300. But in it's state I'd be looking at completely stripping it down and rebuilding it, I don't think it's worth what he's asking. Sad thing is it will probably go and quickly.