Value of 92 GS500 w/ salvage title

[dandaman96]

Hey guys,
First off, wanted to say hi.  I'm thinking about purchasing my first bike.  And I will admit, I know little to nothing on motorcycles.  

I did a search, and browsed the forums a little, but couldn't find a case exactly like mine.  

The bike I'm looking at is a '92 GS500E.  It was bought by the previous owner w/ a salvage title a few years ago.  The odometer reads 9300, but has not turned since the owner bought it.  He estimates that he's put 2k miles on it since then.  The gas tank is damaged.  There is a ~4" dia dent on one side, and there is a little paint missing.  The clutch handle is bent up pretty good too.  There are a few other scratches on the bike.  I was told that the rear tire was flat in the middle (I'm assuming from a few smoke shows...)  But over all though, it looks decent to me.  Nice enough to ride, but rough enough I could drop it w/o getting ticked off.  

He started it up cold (40*F) for me, and it seemed to have (in car terms) a lumpy idle.  Is this typical of a GS500?  

To a novice, it seems like a decent bike to start on.  I really like the light weight and tame power output.  What I would like for a starter bike.  But the salvage title worries me.  I know the guy I'm buyin it from, and he tells me it's mechanically sound.  And I do trust him.  I want to give him a fair price for it, but with the condition its in, I don't want to drastically over pay.  

So my question is, what is this bike worth?

Thanks!!

[Rema1000]

Did the current owner register it with current plates and tabs?  Visit your DMV and ask what would be necessary to register it.  You will never get a normal title for it; it will always have a salvage title, so there are some extra steps.  Typically, to register, you have to pay some extra cash in order to have it checked-out by the troopers, who will pass judgement on whether it is fit to register.

Also, should you wish to sell it, you will find it much harder to sell.  So it's definitely worth less.  If a '92 is worth $1500, then I wouldn't pay more than $1000 if it were in great shape.  But it has a "lumpy idle", which probably means that you will be cleaning the carbs, etc.  so it's probably not worth even that much.

If the frame is dented anywhere, then run away.  
If any of the wheels are dented where they meet the tires, be aware that you'll be buying a new wheel from a junkyard.

[The Buddha]

I paid 800 for mine in 95 (bike is an 89) and it had salvage title. It had no visible damage though. I then put 37K on it, crashed it 2 more times and still have it. Once I got side swiped by a car. After that they forogt to put salvage in the title... so I now have a straight title... Lovely clerical errors. Of course the bike deserves it cos nothing was ever wrong with it. So these bikes crash well in essense due to not having plastic and flimsy brackets, and thin tube secions holding up the plastic and frgile parts everywhere. Lumpy idle is dirty carbs but it can be cleaned without taking them off the bike or splitting them in anyway. The lazy man's method is quite good. Air filter also probably needs to be cleaned/replaced. So is oil. The deal killers in this bike will be bent frame and bent forks. Wheels are available from people in this site as is most other pieces. Anyway you have the benifit of knowing this site and the parts source and knowledge base that goes along with it, and the seller doesn't. So I'd seriously low ball him... (~2-300 bucks max) and really scrutinise the bike before making an offer, write all problems on paper etc... Then low ball. I doubt he'd say no... cos he'd probably estimate more on the repair cost than you would and he'd be eager to get any $$$ out of it cos a shop will easily cost him more than its worth. Oh look for rust... that's what kills GS'es.
Cool.
Srinath.

[dandaman96]

Thanks for the input guys..  Anyone else?