Hello everyone. After much debate financial issues have forced me to sell my 2008 GS500F. She's my baby, I love her and don't want to sell her, but it is what it is. I have found a great buyer who's done his research and we're working together but pricing is becoming somewhat of an issue. The long and short is I want to be fair to him but don't want to get screwed; I was hoping you all could help a bit.
Positives first:
2008 GS500F, always maintained, full synthetic, Pirelli Tires have 2500-3000 miles left, Suburban Machinery handlebars (SOO MUCH BETTER!) Replaced the speedo with an Acewell (I have the old one and service record to validate mileage before the install). K&N Oil and Air (drop in) filter. Long and short, the bike is clean.
Negatives:
She does have ~12,500 miles on her - which is high, I recognize. She was down once at low speed causing cosmetic but no engine damage. I replaced all the fairings (except the rear tail) and added new aftermarket graphics which come off pretty easily. There are still signs of the crash, some road rash on the left engine guard and some scratches on the left tail section - currently covered up by the graphics.
KBB says the value is $3350, which I understand I could not get. I had initially priced her at 3,000. After working with the buyer, we negotiated down to $2,600 to take into account the mileage, damage and speedo redo. Unfortuntately, he wrote to me last night saying he was advised that the bike is worth even less than that. As I said, I want to be fair and trust your guys' input on this, but at the same time, the whole reason I have to sell her is so I can get money. Any advice you can provide is appreciated. Thanks
KBB is a starting point, but I've found that it's usually off for motorcycles, depending on the time of year, and the market. The best way to gauge prices, IMHO, is to browse craigslist. Prices can vary significantly depending on where you live. Try to find a comparable bike or two and work around those prices. In the end, everything is worth what someone is willing to pay for it.
Thanks Brendan. I've looked around craigslist and found a pretty wide variety in the Southern California area. People selling 2008 GS500f's have them priced at $3K and $3300. That said, they do have lower miles than mine.
I've also found people selling 2006's and 07's with varying miles and some claiming "perfect condition" for $2200 - $2800. I don't want to get into how ridiculous some craigslist scammers can be, there's already a few posts about that. Overall, if anyone has opinions on what a fair price for the bike described would be, that would be helpful so I can point to it with the buyer. We both trust the people on here and will take your advice very seriously. Thanks for your help.
http://gstwins.com/gsboard/index.php?topic=54179.0 (http://gstwins.com/gsboard/index.php?topic=54179.0)