Yes, he is asking too much. Around here, a 310 is $200 in pristine, ready to ride condition (I have sold several at that price, in that condition).
Trade in? Everything changes. Need to sell your bike outright, and then negotiate with cash. I've taken trades, but just like trading in a car, you are getting convenience of not dealing with a sale, so the dealer makes money on the car they sell you, and your trade in. It is the same with bikes. Realize when I take a trade in, I assume all the risk. Bikes traded in always need work, what if I find some hidden defect, what if I end up selling it for less than I think? Who pays for the time I spend rehabbing it and marketing your bike?
I had a buyer recently want to trade in a bike. I gave him an honest answer, I could give him $120 in trade in, or he could sell it himself for $200 (and I didn't go into it with him, but his "pristine" bike needed some serious maintenance work before I would sell it).
Fuji Supreme is not supreme, it's entry level, 9th out of 10 in their road bike line. Without pics no idea of value but by your description, it's low.
Supreme is not super light either, its towards the heavier end for that era.
Last edited by wrk101; 06-30-13 at 10:50 AM.