It looks like there was a big difference between the '03 and '04 Sequoia Elite. The '03 had Ultegra with the '04 having 9 speed 105. The prices were $1630 vs $1200. Another big difference is wheels - Shimano R540 vs Alex ALX-290. I think $500 for an '03 would be a steal; however, $500 for the '04 isn't so good of a deal.