We've had our GS500 for years, its my wife's bike. A couple years ago I bought her a car and the bike has sat in the driveway unriden for the last 2 years.
Last year her purse was stolen and our only key for the GS was in it. We hadn't even realized we lost the key until recently when we decided to sell the bike and now have no way of cranking the bike, or even removing the seat and charging the battery.
My biggest question is do y'all think it would be worth it to restore the bike to fully running condition (get key made, clean carbs, buy new battery, change sprockets/chain) or should we try to sell the bike as is?
She's had the bike on CL for a couple weeks and all we are getting is ridiculous lowball offers around $300. I know its a gamble when you buy a bike in non-running condition but that's just an insult.
I was just curious to hear what y'all thought about it and what you might do in my situation.
Thanks,
-Ben
It's really tough to say without details.... I've seen bikes that sat out in the rain and sun for years that weren't even worth $300 in parts. And like you said - right now the bike isn't able to run. If you were to but a new ignition cylinder and battery, at least the bike could be started and show potential. New filter, chain, battery, etc.., doesn't really add to the value of the bike since those are maintenance items. Buy if you don't do the maintenance, then those are just bargaining chips for potential buyers (and low ballers).
You have to think about it this way from a buyers point of view: there are plenty of people that will say ANYTHING to sell a bike. If your bike isn't in top shape when a potential buyer shows up, you really shouldn't expect top dollar for it.
Might be helpful to post what YEAR
How busy are you? If you have the free time to do the maintenance, the $200 you spend on parts getting the bike going is going to pay off several times over. A running GS in poor cosmetic condition is worth at least $1200.
So in my area (Texas) at the height of riding season most used, running and clear titled GS500Fs ballpark for around $2000-$2700. I saw a pristine 2008 go for $2200 just recently, and I have seen some questionable ones listed for $2500-$2700.
I am no Sam Spade, but I am guessing this may be your listing, or sounds very much like it: https://sanantonio.craigslist.org/mcy/5072531901.html
The problem is that if someone buys a bike, and it is not running, the buyer is going to assume the engine is toast and it is gamble. So if the buyer assumes the seller has borked the engine and left it sitting outside for a few years, there is basically little value to the bike. Chances are the electronics and hoses are buggered to some extent and the tank is possibly full of rust. Without the key to check the tank, or turn the engine over, the buyer has to assume the worst. Figure $50-$100 bucks for a new harness and $60-$300 bucks for a tank; using either a sealing kit, or purchasing a rust-free one. So without a key and something in running condition, you basically are selling a frame and fairings at this point. At least with something running, even poorly, it can give a shade tree mechanic some idea of what they have in store in terms of fixing. On top of that, if the bike has a salvage title, that lowers it even more.
If that is your CL posting, PM me - I have been fixing up my GS from a parts bike I purchased (ironically) for $300 bucks. I have an extra ignition, keys and various parts and would be willing to help you out if you are interested in getting it back to a running state so that you can get closer to what you are asking. If you know the motor is good, and if you have a spare weekend, we can get it straightened out.
If this isn't your listing and you're not in the area, maybe a fellow 'twinner would be able to help you out in your neck of the woods. I would echo what Bluesmudge says, it is worth the small investment to get it to a running state. Nobody in their right mind will offer $300 for a running bike.
Al, that is her listing. You'll have a pm incoming.
I pretty much feel the same way you guys do, now its just time to convince the wife to invest money into it to get a better return. once she decided to sell it the idea of putting more money into it just upset her.
My biggest problem is I sold my bike last year for the same reason (to help pay off our massive school debt) and if i put work into her bike I'm going to want to start riding again :/
At any rate, thanks for the input guys! I'll probably end up with with a few more questions if i get the green light to fix it up so i'll probably see y'all around.
You do have a good point. There is nothing harder than selling a bike you just got running -- you want to ride it!
Quote from: Bluesmudge on July 06, 2015, 04:23:24 PM
You do have a good point. There is nothing harder than selling a bike you just got running -- you want to ride it!
you know, just gonna test it out for a few months to make sure its all good... then oops, bought another bike instead of paying off any debt...
I may be wrong, but I thought there was a serial number on the ignition and with that code you could order a key from Suzuki or have a locksmith cut one. I believe it is supposed to be on the bottom of the cylinder and difficult to get at to deter thieves. The code may also be on the helmet locks. Dealer might be able to cut one using the VIN
Have to agree with the other posters - a bike that is not running is effectively scrap. If I was buying it I would have to assume that the motor is toast, the fuel tank is rusty and the carbs need cleaning - at a minimum. So I too think it's definitely worth your while to get a new key/ignition and you can then at least demonstrate that the motor turns.
Quote from: blade on July 07, 2015, 08:08:44 AM
I may be wrong, but I thought there was a serial number on the ignition and with that code you could order a key from Suzuki or have a locksmith cut one. I believe it is supposed to be on the bottom of the cylinder and difficult to get at to deter thieves. The code may also be on the helmet locks. Dealer might be able to cut one using the VIN
ditto. Start by trying to contact Suzuki with the VIN and title info (for the same of legitimacy). Cost nothing but time and a little effort.
For others for future reference: when purchasing a used vehicle, make a spare key your first priority after getting it home.... or on the way from the DMV if it's running.