Am I spending too much???

[gamdon24]

Ok, SO....  I purchased my 1992 GS500E not running with 19,000 miles on the odometer, back in November of 2016 for $200 U.S. as a restoration project.   

I thought I would strip down the tank and rear cowls repaint and do a little cleaning.  THEN get it running and riding again....

Remember I said "I THOUGHT"      

Prior to beginning my restore, I spent lots of time researching how to's and finding parts distributors I could order parts from...   

As soon as I began the basic tear down I started ordering replacements for missing and broken parts.

I also had an issue getting the original title for the bike.   

SOO after a bit of deliberation, I chose to purchase a 2nd frame complete with title!  Rather than go through the nightmare of going around to the courthouse and to the tag agency and wherever else I would have had to go to get a "NEW" title.     

Once I committed to the new frame, I decided I might as well take the simple restoration in a new direction.  TOTAL RESTORATION!       

I stripped the "New" Frame to bare metal, primed and painted, then I began the LONG process of tearing down the original bike and repairing and replacing parts before I start the installing them on the "new" frame.    

So far without listing EVERYTHING separately, I have invested over $2,200 in the restoration.    

Once I have purchased all the parts I want/need for this restoration I will probably have invested closer to $3,500, NOT TO MENTION all the TIME I have spent ensuring everything is in working order and looks good.


My thought is this, I know this little bike isn't highly sought after, and my original plan was to restore it to a decent running and appearance then sell it for at least what I invested (Time & Money)

Ok if you've read this far let me know what you think...         

[Toner]

She's gonna be keeper. Try and post some photos.

[gamdon24]

She's gonna be keeper. Try and post some photos.

Look in the projects and restorations area I have been posting as I go...

Thanks   

[J_Walker]

you invested your money in a turd nobody wants anymore, that everyone buys because its a "beginner bike" nobody's gonna spend 4 grand or 5 grand on a GS500, when you can get a beat running one for 800 bucks. 

you're about 8 years too late on the GS bandwagon.

[Endopotential]

To argue the flip side...

Who cares how much you spent on it, as long as you're happy with it?

Money doesn't make you happy sitting in a bank.  All the penny pinchers out there may get hit by lightning or some careless cager on a cell phone, and all that money won't make a difference.

If you're in the motorcycle selling business and approach this as a financial transaction, then no, you may not recoup your speding.

But if you approach this as a hobby on something you'll love tinkering and riding on, then it's totally worth it! 

[ShowBizWolf]

I bought my GS 5 years ago for $1k and it was pretty rough. I put in over what I paid for it within the first 6 months of ownership.

But that's just what I do with vehicles... and I knew I'd wanna keep it forever

I agree with Endo... as long as you're happy, then keep doin' what you're doin' !!

[user11235813]

you invested your money in a turd nobody wants anymore...you're about 8 years too late on the GS bandwagon.

What about this http://www.bikesales.com.au/dealer/OAG-AD-12553242/2012-Suzuki-GS500

[cbrfxr67]

where pics?

but, just enjoy what you're doing.  You're learning too, so don't discount that and the experience.  Did anybody mention pics?

[ajensen]

Just get it running correctly; make sure you have good suspension, tires, and brakes; and enjoy. GS 500s are really fun to ride.

[gamdon24]

To argue the flip side...

Who cares how much you spent on it, as long as you're happy with it?

Money doesn't make you happy sitting in a bank.  All the penny pinchers out there may get hit by lightning or some careless cager on a cell phone, and all that money won't make a difference.

If you're in the motorcycle selling business and approach this as a financial transaction, then no, you may not recoup your speding.

But if you approach this as a hobby on something you'll love tinkering and riding on, then it's totally worth it! 

Well J_Walker you are entitled to your opinion just like everyone else, but I'm also allowed to disregard your negative comment , 

I like your reply better Endopotential Thanks for the positive response. 

In case anyone is wondering, I AM using this "turd beginner bike" as my return to restoring vehicles.  I should probably give you all some "back story" on me if you're interested in reading farther...

I am Retired military, I was injured by an explosion outside Kandahar Afghanistan in 2006.  This event left me with several broken bones as well as PTSD and a Brain injury. 

Prior to being injured, I spent many hours on restorations of Classic cars/trucks etc...

During my recovery I found I lacked the ability to properly plan, organize, and follow through with the many restorations I was in the process of finishing.   

I went through a couple years of depression, gained a great deal of weight, and stopped trying to do anything other than sit and stare at the TV. 

I was even a suicide risk at one point.  Through a lot of Therapy, and Medication  I was able to regain control of myself and begin to pull out of the tailspin I was in.

I found that I still retained the desire to work on vehicles and I needed something small as my starting point in able to return myself without over burdening my mind and loosing my way again.

Ok, I think that sufficiently explains where I'm at now...

As for those of you who have read this far... THANK YOU!!!    You can find pictures of my progress under  Topic: (New / Old restoration )  in the (Projects / Builds, Racing and Tech) area of the site.

Thanks again for your replies, I look forward to more interesting conversations as I learn more about this bike. 

gamdon24

[Endopotential]

Hey Mike, thank you for your service.  Sorry for what you went through, but glad that you're in a better place now.

It's tragic what wars leave behind.  When will we ever learn?

But on a brighter note, wrenching on things is pretty good therapy for many ills.  I always find that tooling on the garage helps to unwind my mind after a long day at work.

Keep us updated on your project!  Who cares what others think, as long as you're having fun.

[rscottlow]

First off, thanks for your service. 

Unless you're looking to make money off of this, it doesn't sound like you're spending too much. It sounds to me like you've got other motivation for this project, so you're already reaping the benefits from the money you've put into it. Plus, you'll have a fun little bike to mess around with when all is said and done. Enjoy! (I'm off to go check out your project thread)

[ajensen]

Thanks for your service. I am a fellow veteran--2/9 Inf. 1969-70, Korean DMZ. I also suffered from PTSD--motorcycles are great therapy. You'll enjoy your GS.

[The Buddha]

you invested your money in a turd nobody wants anymore...you're about 8 years too late on the GS bandwagon.

What about this http://www.bikesales.com.au/dealer/OAG-AD-12553242/2012-Suzuki-GS500

I'm sorry - that bike looks retarded.
Like some fool hammered it together in his garage.

Seriously - you want a chopper, start with a savage or a shadow 600.

Cool.
Buddha.

[cbrfxr67]

thank you for your service sir!
Definitely good therapy.  I really enjoy my garage zen time.  Bikes are great too cause they don't take up too much space!  I too started with turd bike so I'm pulling for you!  can't wait to see your progess

[sledge]

Restoring bikes? Rewarding, challenging, enjoyable and when your peers compliment you its a great feeling.

Restoring bikes for a profit? All of the above plus.....extremely difficult.

First thing you need to know is how much restored examples go for and unfortunately aged GS5s are not good sellers, even when in extremely good condition. A few years ago you could find rough ones that needed work and a good tidy up and it was easy to punt them on with a modest profit. That no longer applies because there are now far better used bikes available for the same price.....least in my neck of the woods.

If you want to turn a profit you need something that has a reputation and a following. 70/80s Yamaha dirt bikes, Honda 4s and CX. Yamaha RD/RZ series, Suzuki GT and RG series. BMW K series. The first of the GPZs...these are all hot at the moment. BUT........be very wary of anything that doesn't run and just as wary if it doesn't charge.

[sledge]

http://www.classicjapcycles.com/technical/your-first-motorcycle-restoration

[The Buddha]

I think the chopper/bobber thing is so over done. Personally nothing would give me greater pleasure than to crush some of those outstandingly bad examples till they are barely recognizeable.
And every Idiot who owns one of those asks for 5 to 30X the cost of the base bike. Which I'd rather buy and just use.
Cool.
Buddha.

[J_Walker]

I simply pointed out what the GS was, and answered your question as to if you restoring it is gonna actually turn a profit, truthfully.

I didn't think you'd get hot buns over me calling the GS500 A TURD. Act like I kicked your dog or something...

[mr72]

don't sweat J_Walker's input, it's always like this (and IMHO, rather off-base especially considering the company he keeps on this forum).

First of all, $2200 is hardly a lot to spend on what will wind up being a well sorted GS500. I am near that same number with mine and it's hardly restored but I have no doubt it's worth that much on the market simply because once you get into this age/price-range of motorcycles, it is much more about the individual bike's condition and utility than it is about some other comparative features. For $2000 you can look really hard and find a very well sorted GS500 that will be reliable and fun and imminently useful or you can get a trashed SV650 or M600 or some halfway-converted café beater 70s bike with dual drum brakes and no title. I can tell you which of these I'd rather have.

My last car, I bought new for $20K and then 15 years later decided I never wanted anything else and tore it all the way down to restore it essentially, doing everything myself from building the engine and suspension to paint and upholstery. It was 95% complete when a driver turned left in front of me and the car was totaled and I was lucky to get just the materials cost of the restoration out of it from the insurance company. It was likely never going to be worth what I was willing to spend on it. But it was my car and it was worth it to me, even though it didn't turn out to be a sound financial choice.

I did the same thing with the GS500. I paid $900 for mine and wound up spending $900 on a shop bill right away not to mention other work I did myself but it's a quite nice bike now and I have yet to see anything that I'd rather have for less than double what I have in it. It doesn't have to be worth $1800+ to anyone but me for me to be happy with it. Who cares what others think about how you chose to spend your time and money on your bike. You like it? It's worth it. If you couldn't afford it, well that's a different story. In the grand scheme of things, a GS500 as a restoration/tinkering hobby is extremely cheap comparatively.

Oh how I regret letting go of my 240Z and not buying that AE86 when I had it for $1K or biting the bullet and buying a Dino 246GTS when I could for $15K or all of those Datsun 510s I considered when $500 would buy a nice one. You never know what's going to happen with the value of something like this. Regardless of the naysayers, a GS500 may very well wind up being a classic. I was surprised at the incredible number of Honda CBs I saw at the last MC show I went to, and you know those were never anything but basic simple utility bikes.

And the reality is, even though my own GS is probably worth more than I have in it right now, and I actually might want to get another bike in the not super distant future, I can't actually imagine that I'd want to sell the GS. I just like it too much and it's not worth it to sell for the $2K+ I'd get for it. My 0.02