Nice bike but why get such a small frame if you're then going to have the stem at the end of the steerer and have the stem angled up so much? It looks weird. IMHO - better to buy the correct sized frame for you in the first place.
BBB.
Oh, damn! The owner has gone afoul of the stem police! Obviously, given your comment you must know every single thing about the owner's fit, physiology, and etc. Clearly. Obviously. One thing they apparently teach at the Stem Police Academy is that the stem is not supposed to go at the very end of the steerer, that 3mm of steerer or so is best left above the stem. See, if you take a look-see at the piccie, you'll see there is that piece. So, his stem is not at the top of his steerer.
Maybe the owner just liked the bike. Maybe he or she just liked the way it rode. Maybe his or her body has atypical dimensions and doesn't fit off-the-shelf frames well, and maybe said person didn't have the money for a custom frame. Maybe it just doesn't matter. Maybe that last and neglected requirement the owner had for making the purchase was satisfying your aesthetics. Imagine that.
Actuallly, if you'd really looked at the pic instead of only glancing at it beyond your upturned nose, you'd see that the saddle is pushed pretty far forward. This could very well mean that the rider has a shorter torso than the norm for his given leg length. That's a fit that can be problematic on off-the-shelf bikes. Hell, maybe there's some other reason for the biking being setup the way it is.
