Hey Adam,

Good luck with the new bike! People ask me all the time what I think a bike is *worth*-- here's the answer I've come up with. Nothing if you don't ride it. The world is full of people who buy a new bike and don't ride the darn thing--- and are lucky to half the're money back selling the bike.

On the other hand, almost any bike is worth what you paid for it if you ride it.(that's true of $20 yardsale beaters to custom built $4000 road bikes) The health benfits alone will pay for a bike-- add any reduction in driving due to commuting as a pure financial windfall. So that $550 is money well spent..... if you ride. If not, well you pissed it away.

One last question. Did the guy who sold you the bike seem like he'd help you fix the bike if it broke? Or answer any cycling questions you'd have? If so, that $550 price is really, really good deal.