I don't know. In my city, there are tons of name-brand mountain bikes that show up on Craigslist for $50 to $100. They're much better bikes than the one shown here (Specialized, Trek, Gary Fisher, etc.). They're older, but if you know a little bit about bike repair and maintenance, you can buy 'em, fix 'em up, and ride 'em forever.

On the other hand, if you are in a hurry, don't have access to a lot of used bikes, are sick of looking, and don't mind buying a bike that will likely require a lot of maintenance if you use it hard, $61 isn't a bad deal. At the end of the day, you can only lose $61. I don't know your local market, how many bikes are around, how many yard sales are in your neighborhood on a typical Saturday, etc. etc.

Your choice.