I'm a graduate student, graduating this June.

I bought my bicycle in the campus bicycle store, 18 months ago. It's in perfect working order (tyres 90%), and has barely left campus since I got it. It was $420 inc tax, when I purchased it (excl lights). It comes with the campus store security package (Kryptonite U lock, combination lock for seat, anti theft wheel nuts and a helmet), which costs $80 alone. I will also throw in a Sigma front light, back light and seat cover.

It is easily worth more than $320 in September. Buy it for $160 now, lock it up on campus (or use it) over the Summer. Then sell in September for $100 less than the campus store, when 000's of new students need bicycles.