Is this Panasonic DX4000 bike worth the asking price of $280?

tballw32

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here is a picture: http://i263.photobucket.com/albums/ii159/mcnhbc/feb14003.jpg
It is a 50cm Panasonic DX4000 - Shimano 105 Components - 14 speed - Araya Annodized 700s
they're asking $280, is that too much? if so how much should i offer for it?
 
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