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It's probably a fairly good deal. It was a $6-700 bow two years ago.
Just make sure its the correct draw length and weight for you. If the draw length is too long or too short, it'll cost another $60 for the right cam.
Even though he says it has a new string, check for fraying of the string and cable. Strings are cheap, but may be able to use that to knock the price down.
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