Don't be shy about making offers on Ebay or craigslist. $1,200 is a lot for a ten year old bike. I don't exactly lowball but I've gotten asks down a few hundred, into what I considered a reasonable range.I sell things, too, and I've always got a "get it out of here now" price in my head. Timing is everything.

As others have pointed out, consider how much work a used bike needs, and who is going to do that work. I got a great deal on an old Trek road bike. Nice shape, but I'd still like to tear it down and re-grease. I got a quote from a bike mech. Looks like I'll be buying that special helicomatic wrench after all!

Also, consider going with the classics. CF is nice, and light, but I get a lot of pleasure out of the old steel bikes. Some of them are asking high prices, but there are deals. C/V is my porn section here. I just bought a used Pashley Guv'Nor. Made an offer. It's not an old classic but it might as well be, and it's a pleasure to just sit in the room and look at. Wouldn't recommend it as a daily driver, but it's not bad at all. Hey, if you're buying used you can afford to buy several bikes for the cost of a snazzy new one, right?