I'm thinking about purchasing a 2nd hand 2011 Cervelo R3, so I'm chasing some opinions on the following:
1. Would you buy a 2011 R3 2nd hand if the bike had spent most of its life so far (apparently) hanging on the wall?
2. What would you pay for a mint R3 selling with only base components (Rival group, Rotor cranks, old Easton circuit wheelset, nothing special seat, stem, bars etc)?

I know the frame warranty doesn't fly if you aren't the original owner, though the seller reckons he's help me out if I had any issues (not reliable I know). The frame is in the earlier round of 2011 frames before the rear derailleur hanger mount problems were corrected.

I need to provide the seller with some thoughts shortly and I'm a bit apprehensive about the deal unless the price is hard to resist. Your input will help push me over the line, or steer me away, so it is is definitely appreciated!

What's on the 2011 closet classic? I've see people shoot for $1000 or so go the frameset used. From the hip... $2000 depending on group set. Maybe a little more. But if its something like red or dura ace, maybe even $3000.

Myself, I wouldn't pay anything for a Cervelo off of warranty. I'd at least be very careful. I've had two S1s crack and go through warranty replacement, and at one time I researched getting an R3 but read about BB cracks and decided against it. Granted the S1 is aluminum and I was thinking about an R3 circa 2010. Things may have changed. Cervelo makes a fantastic bike and they have great customer service, crash replacement and warranty replacement, but they don't have my confidence without that as a backup. If I could get the frame and/or parts with it at a price that I was happy with, even if the frame only lasted a year, then I might do that. Not the kind of thing I would do looking at it as a second-hand long term investment. YMMV though. Could be isolated instances.

Given all that and the availability of closeout Focus, Willier, etc you can find online for 2500-3000 unless you're getting a crazy deal it sounds like a bad idea.

If you are in the US, there were several places blowing out Rival equipped R3 in the <$2200 range...do some searching and you could probably find a good deal on a new one. As for frame defect issues, the BB cracks were isolated to pre-2011 R-series frames...I have yet to hear of a BB crack issue with the newer BBRight frames. Regardless, buying ANY carbon frame without a warranty is a risky venture.
EM3

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My 2011 Cervelo R5

$1200

I bought a 2011 frame that just about fits your description in question 1 off of ebay for $1150. Paint was in perfect condition minus cable rub on the headtube/fork crown area. As an added bonus, the prior owner (unsure if it was shop or individual) hadn't registered the serial number for the warranty. that was a jackpot deal.

no issues with cracks, bbright has been fantastic and noise-free, and it's been all the bike that cervelo markets it to be. given that cervelo has essentially priced it as their mid-market frame, i wouldn't pay much more than a grand.

Just an example:
http://www.probikeshop.com/sales-cervel ... 70196.html" onclick="window.open(this.href);return false;

Agreed. You can find good 2012 close-out deals if you look around. The little extra you pay would offset the added bonus of having a warranty, which is quite a nice thing.

Also good to know the R3 issue is pre-BBRight.

Nothing because the seat tube is too slack for me.

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Fuji SL/1
Send your data to Weight Weenie listings!

The shop I worked at has been clearing out on Rival R3's for 2100.

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Felt FC: viewtopic.php?f=10&t=116061

1200$
Alhoa

Appreciate all the responses guys. The seller (I'm in Aus) reckons he won't go below $2k, so I've just told him thanks, but no thanks. Obviously the price input here plus a few of the other sold prices I've seen online has made it easy to hold off for now. I'll keep looking around.

(very helpful djconnel)

Seayel: it sounded like the warranty on this frame may have been unregistered too. That was the only reason I was thinking seriously about it. Without this (never was confirmed) & considering the high & rigid asking price, it wasn't too hard to let it go this time. $1150 sounds like a pretty good deal to me though. I hope the bike is treating you well!

Not too much if you're buying from a shady seller on a stret corner or back alley in a dodgy part of southern France :-(

In the UK they run at a premium and you're largely buying the frame at that point b/c you'd most likey relegate most of the equipment (save the cranks) to your winter bike.

MAke an offer for 1000-1100 and let the seller know it's an offer which means no insult is meant and you're open to a bit of barter. That way you might be pleasanty surprised and you'll probably stay within the 1200 mentioned above.

Let us know how you get on.

I know how tough it is to turn down a good deal like that, but you made the right call. I'm sure you can beat that deal if you look around.