Need Opinions, please

[myth44]

First, Let me start by introducing myself. My name is Mike and I am new to bikes, well at least bikes you ride on the road.

So here is the story, I am currently looking at a 1997 gs500e that has been sitting in my girlfriend's neighbor's back yard for at least two and a half years. The catch is this the guy's brother bought it on a whim a few years ago for $600 and never did anything with it because it didn't come with keys. I know i can get a new ignition and keys for pretty cheap so that's not too big of a concern for me. He told me he'd like to get $500 for it. I don't think it's worth that much, but then again i am the noob here.

So my question is, what would you guys do? What do you think it is worth? Would you even bother with it?

I Want to tear it down to learn about the engine then rebuild it to ride, obviously.

Sorry i don't have pics at the moment.

P.s. I've been a lurker here for about 5 months 

[DaMuffinMan]

Let's look at the cons first: 16 yr old bike, has been sitting in a backyard uncovered for over 2 yrs, unknown history prior to that. Without looking at the bike these are the possible problems you may encounter: rusty tank, gummed up carbs, all rubber pieces dry-rotted, rusty chain, dead battery, who knows what the internals of the motor look like You see how it all starts to add up? Now for the pros: You're only investing a couple dollars, the GS is fairly simple to work on, it's been in production over 20 yrs without any major changes (proven, abundance of parts). The satisfaction of bringing something back from the dead.

As for the price, an object is only worth what someone is willing to pay for it. I guess it depends on you're reasons. If all you wanna do is learn how to ride than i would suggest purchasing a bike that's already running. If you enjoy wrenching, than get yourself a manual and have at it.

One last thing, make sure the VIN's match. There's something fishy about buying a bike with no keys, and then not doing anything with it cuz "it has no keys"

[twocool]

The bike is worth nothing as it sits.......tell the brother in law you will take it off his hands to get it out of the yard, for free.  You will spend more$$  fixing it up than it will ever be worth.  But maybe you'll be lucky and get it running for cheap?   Big risk...........


Cookie

[Twisted]

That bike is only good for one thing. Parts.

[mister]

It's only value is as parts or scrap. If you pay $1 for this bike you paid too much.

Buying a bike with no keys is BS. Probably been stolen (there, I'll say what everyone is thinking). So, pass on this one.

[myth44]

Thanks for the input guys. My first thought when i heard no keys was that it was possibly stolen. That's what a few of my friends said as well. I will keep playing the waiting and searching game.

I actually just heard from him again last night and he said he was wrong and that it is a '93 instead of a '97. so a 20 yo bike instead of a 16 yo bike which is even worse.

[mcg2000]

To eliminate any doubt, you could always ask to check the bike up close (inspection), and either write down the vin or take a picture of it. If he's around and asks why you want the VIN, a simple reply stating you just want to see if its been in wrecks or not should suffice. If he doesn't let you take the VIN still, or its scratched out, it's definitely stolen. But, if you get the VIN, I would run it across your local police department. If they say its clear, then all you have to consider is the condition.

I'm trying to think of good reasons that it might be worth offering $100 for it, but I'm having a hard time. I'm imagining having to rebuild the forks, engine (top end at least), carburetors... rust may not necessarily be an issue. Only exposed steel will rust, so if you can't look inside the gas tank (assuming its been left empty for the 2 years), assume the gas tank needs replacing as well. Obviously, visually check everything other than the tank for rust also. Rust doesn't necessarily mean the part has to be replaced. If it's only slight rust, some sanding and repainting will be fine. If the tank ends up rusted but not badly, they have kits to fix that as well.  Also, a problem I run into rebuilding salvage bikes (I'm on my 4th), you usually find that people put the wrong parts on somewhere, whether its the wrong bolts/fasteners or a part, such as air filters. So assume there will be at least a few bits you'll be replacing simply because they're not right. If the seats torn, a pneumatic staple gun and a sheet of vinyl will give it a brand new look without the hefty price. Battery will likely have to be replaced as well. Hmm... lets try this method:

> Fork rebuild -$60 if you have a fork compressor, $80 if you build your own (mine was wood, bolts, & nuts), $250+ if you buy one
> Top-end engine rebuild  -$100 in gaskets, piston rings
> Carb rebuild -$30 to $60 depending on parts you buy
> Seat tear -$15 max for the vinyl
> Gas tank -$50 should be able to grab a good one at this price (patience is a vurtue)
> Replacing dry rotted tires -$150 minimum unless you get used
> Battery -$80 apprx.
> Patience do do all this -$ Priceless

And this is best case scenario. But regardless of it all, just do what makes you happy... unless its stolen. 

[jacob92icu]

Most people are overlooking the fact that there are no pictures. There could be some precious plastic or aluminum gems on this bike that are in decent to good condition that the buyer and seller do not know about. For example, this bike could have the 89 clip-ons installed and even a belly pan.

In that case you could offer him a couple hundred, make a profit off selling the items, or keep everything and begin shopping for a cheaper but better condition gs500 to compliment your new parts bike.

All of that being said.... WE NEED DUH PICTURES!!! 

Happy fishing! 

[myth44]

I just got the VIN an ran it through is database:

https://www.nicb.org/theft_and_fraud_awareness/vincheck/vincheck

It came up not stolen and not a total loss.

I absolutely love wrenching. I've taken just about everything I've owned apart ever since I was a kid.

I would take pride in bringing this bike back from the dead.
I need a new project since i finished my 92 kawi jetski lol

[Electrojake]

I am currently looking at a 1997 gs500e that has been sitting in my girlfriend's neighbor's back yard for at least two and a half years...
Sorry i don't have pics at the moment.

P.s. I've been a lurker here for about 5 months.

Some items for ya' Mike...
1.) Lurking for 5 months? This is the best forum on the planet even if you don't own a GS yet. You should have jumped in here long ago. 
2.) Don't delve into a "project-bike" unless your ready for a long rehab and lots of money on new parts. ( I know). 
3.) Posting some pics would really help the crew here answer your questions.
4.) Getting a street bike running for the lowest possible price is a lot different than doing a restore job. What exactly is your goal?

Welcome aboard!

[myth44]

You're right, I should have. This forum is awesome and has a lot of great info. I don't have any pics and since it is dark now it's not possible tonight but maybe tomorrow i can get some. I guess I would like to get it running and on the road for the lowest i possibly can, but I also wouldn't be opposed to a long term rehab. As of right now I am continuing to save my money and keeping an eye out for other possible avenues without completely severing this one. Another possibility mentioned before by another member is to get it, part it out and use the funds for another bike.

I am keeping an open mind with this while looking for other ventures

[Electrojake]

I guess I would like to get it running and on the road for the lowest i possibly can, but I also wouldn't be opposed to a long term rehab.

Cool beans...
Getting an abandoned bike on the road at the lowest possible price is always an adventure. Not nearly as glamorous as a big dollar rehab project but it's a great way to learn how to wrench and patch.
The carbs may be the biggest PITA of the whole project but if the thing was running OK when it was last parked, everything else should simply be a matter of "maintenance".

The only down side is that unlike here in Jersey where there is NO motorcycle safety inspection at all, Maryland will want to see proper fenders, exhaust, decent tires, etc... See this link and go to bottom of its page: http://www.mva.maryland.gov/About-MVA/INFO/58000ASE/58000-01T.htm

There is (was?) a member here from your area that could probably help you with the details when you are ready to get the bike inspected.
Might be worth a PM when the time comes... http://gstwins.com/gsboard/index.php?action=profile;u=9552

Looking forward to those pictures.
-Ej-

[jestercinti]

Words of wisdom on a project bike:

Like the E True Hollywood Story, you'll focus mainly on the 'I've hit rock bottom and there's no way out!'

Then, without warning, you'll hit the starter button for the quadrillionth time, and it will go put put put on its own.

That my friend is satisfying.

[myth44]

This is just an update and the pics that everyone wanted to see