What's a fair offer?

[MyNameHasBeenTaken]

I want to buy a bike.
From a friend.
Not a best friend or anything, but the boyfriend of the daughter of a very good friend.
He paid £350 for the bike a few months ago and has only used it locally 3 or 4 times.
What's a fair price?

I feel half price is a bit low, as it is so new.
But if I had £350 , I would probably get a brand new one!
I was initially going to offer £250.
Would that be high/ok/low/insultingly low...?

I have not bought a second hand bike before !

If he's selling it, then he should set the price and you can negotiate from there if you want.

I'd not be offering any money until he's set the price but I think a fair price would be £250.

He keeps saying make me an offer.

He wasnt planning on selling it, but I said I liked it
Then he had a big bill (wrong side of £1k) so was looking for ways to raise cash quick
I asked if he would sell me the bike as he has no time to ride it.
He said yes.

Was the bike new when he bought it? If so, £250 would probably be a fair price, but be aware that second hand bike prices are high at the moment because there's a long waiting time for new ones. It might be worth looking at sold prices for the make/model on ebay to gauge the price.

But you might also want to tailor your price based on the relationship - if you're OK for money, want to help him, and value the fact that you know the bike's history, ie that it's not stolen and nearly new, offer slightly more than you would without these factors.

But then again, he benefits from not having the hassle and cost of ebay, so he should also be happy to receive slightly less when selling it to you than on ebay.

Yes, he bought it new a few months ago.
Still has receipt and warranty.
I will offer 250.
He has a choice of 2 replies!