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You need to research this stuff yourself because only you can figure out what sort of price it would take you to actually buy this bike new, today, in your town.

If it were me, I'd look at what a very similar or identical bike would sell for today, STREET PRICE, OUT THE DOOR, not MSRP. Don't let anyone get you to think in terms of MSRP, because that's just an irrelevant number, unless that's the only prices you are able to find locally. Don't put any importance on what the seller tells you he bought it for new - first, you don't know, and second, that has nothing to do with its value today.

It's value today depends totally on (a) what you could buy a new one for today and (b) how this one compares to a new one. You'd need to actually find out what they're selling for in your locality after the shop gives any discount and all the bargaining is done. Look at frame material, component group, wheels at least.

Look at not only Felts, but other similar bikes by good names that you would personally consider and be able to actually buy, for example Trek, Giant, Cannondale, Bianchi, Specialized, etc. etc. You need to figure out the street price that you could get an identical - or essentially identical - brand new, fully supported, warrantied bike today. This is your baseline.

If it is truly "like new" or very, very close to like new, I'd look to pay at most 1/2 to 2/3 of that current street price. Low miles or not, excellent condition or not it's still 5 years old (2011 models are out now or will be very shortly).

If it has dings and normal wear and tear, go down from there.
 

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Cycling induced anoesis
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I'd advise caution when buying used CF bikes. They don't always show signs of damage the way alu/ steel do and you have no warranty in the event there's a defect - although after 4 years it's likely to have shown up by now.

At minimum, I'd arrange to have the bike looked over by a reputable LBS in your area. If the seller hedges on that request, use even more caution.

Last, but not least, make sure the bike meets your sizing requirements. The money spent won't matter if you end up with an ill fitting biek you won't ride.
 
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