What should I pay for a Giant OCR3

[larc]

I found this bike on craigslist recently and am wondering what I should offer for it. $450 seems steep. I am new to road biking. I dont need anything super nice, but would like something I can make long multi day trips on (300-400 miles).

Any help is greatly appreciated. Here is the link http://seattle.craigslist.org/see/bik/3796243774.html

 

[oldbobcat]

That's a 2005 OCR 3. It retailed for $600-650. The bicycle blue book (http://www.bicyclebluebook.com/searchlistingdetail.aspx?id=92892) doesn't list values for this year, but 2004 is $192 and 2006 is $238. Interpolate. Blue Book values are based on past sales and don't reflect local markets.

This one looks loved and the fenders, lights, and aftermarket handlebar and stem are a nice touch. On the other hand Shimano Sora is now 9-speed. You can get a new 3x8 road bike (Shimano 2300) like a Trek 1.1 for around $700, or a new Sora-equipped bike (3x9 or 2x9) for $940-980.