The OCR1 is not a particularly high-end frame (it is the same frame as the OCR3, which is a Sora-equipped entry level bike). That said, Ultegra is a good groupset. However, it is 9-speed Ultegra (not 10-speed) which is slightly outdated. So my bike man instinct tells me that $800 is probably a little too high. $650 would be more fair, and $500 would be a great deal.