Yeah, that doesn't sound like much fun after getting your hopes up.
Like you say, the problem is not that the guy sold it to someone else, but that he couldn't be stuffed ringing you.
If I was the seller, bearing in mind that a sale is no sale without the money in my hot little hand, I would have rung you when the other guy got in contact to let you know that the other buyer had turned up, thereby giving you the chance to either leave work for an hour and race out and buy the bike, or else put a deposit in my account.
The guy was dumb as well as rude, you might well have offered him $100 - 200 more to clinch the deal! (I would have if the bike was THE one!).
Illuc ivi, illud feci.
Buggrim, Buggrit.
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