Found a 94 GS500E with less than 5000 miles.  Kelly Blue book is $1650.  Seller is asking $2200.  These bikes are not showing up too often and this size bike is selling like hotcakes here in Colorado.  Thought I'd offer $1800 but will it be worth $2000 if I have to go that high?

If you have the money and you want to spend it, it's worth it. If not, it's not. So much depends on condition - 5000 miles on a 14 year old bike is not actually a good thing - has either sat for a long time or had funny things going on with the odometer. 357 miles per year...

But if the market is scarce of small bikes and the demand is high (hello $4/gallon gas) then the market will push the price higher.

Ultimately, the value is what a willing buyer will pay a willing seller on a particular day. And at least half of that is up to you as the buyer.

Quote from: pontil on August 09, 2008, 05:11:33 AM
Found a 94 GS500E with less than 5000 miles.  Kelly Blue book is $1650.  Seller is asking $2200.  These bikes are not showing up too often and this size bike is selling like hotcakes here in Colorado.  Thought I'd offer $1800 but will it be worth $2000 if I have to go that high?

The bike is worth whatever the seller (beit him, or YOU later) can get for it. Not being a smart aleck, but ya know ?

A 94 without rust, no modifications, good tires, chain, engine, paint, etc would be worth $1800-2000 to ME. His asking price is about right, just a little optimistic.

So your negotiating points are:

tire condition
chain condition (a little surface rust is fine, I got >20,000 miles out of my kinda rusty when bough - chain)
engine condition - does he have proof it's had an oil change or three ?
does it look like it's been beat on ?
any damage at all ?
garage kept ?
color ?
fuel tank condition ?

Send us some pictures, CLOSER UP HELPS ALLOT, and folks will point out things that need attention right off.

Welcome to the board - I'm jealous of your location already.

ps- with very little maintenance she'll serve you well provided you don't beat on her

To add to ohgood check the inside of the tank for rust
and check the fork sliders (shiny part) for nicks and pits as well as the forks for leaks

Yeah and pics will be the best help you can get

Until I can get a look at it, this is the info I got in an email:

"Some history (another buyer has asked for this info).
A friend and I (Rachel) bought the bike back in 1998 when it had about 1500 miles on it.
I left for Australia in 2000 and she has had the bike in Colorado Springs ever since.
Now that I have returned, she gave it back to me, as she wasn't using it.
I have only driven it back from Colorado Springs in the last 2 months and that's all I have done driving it.
Clearly neither of us have a need for it - time to sell !!"

I should be able to see it early next week but took the precaution of buying some tie down straps and withdrawing some cash  just in case.  I REALLY want a GS500!

Also look how old the tyres are, probably need new ones if they're still original.

Make sure there are no leaks, and more importantly make sure it has been properly maintained.

If its been sitting in the shed for a half a decade, its not a good idea to just jump on and go for a ride.

Hi there, and welcome,

This bike could very well be worth its higher asking price, but you have to know what it is, what you are looking at and how to properly and accurate judge its true value.

Here's my post recently about someone in a situation similar to yours.
But in his case, he spent what he thought was a "deal" at $1200 and probably got much less of a bargain than he thought.
I do think buying a quality bike for a bit more is usually better than buying cheap and spending to fix it up. Doing that, you can easily spend way more, have lots of aggravation, and still get less of a bike.
Here's that thread:

http://gstwins.com/gsboard/index.php?topic=41768.0

Re: Chain fell off
« Reply #4 on: May 30, 2008, 06:58:20 PM »
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Hi there and welcome to the board,

Your experience is the reason it is always good to go into such prospective purchases with LOTS of information before buying a motorcycle.
You have to look over everything on a prospective purchase to make sure it is worth its asking price, and to determine how much money you might have to invest to make it safe and healthy.
Any motorcycle must have:
*No visible rust in the fuel tank -- open the cap and look inside and use a flashlight to peek around. If it's been lined with sealant, I personally would not be happy with it. I'd mark it down as a major negative because there is no guarantee that you won't forever be cleaning little bits of the decomposing sealant out of your fuel system as time goes by.
*Fresh tires with healthy tread and no weather-checking on the sidewalls and tread. Bad tires? Add $200-250 to the cost of the bike, and that's if you take the wheels to the dealer to have the tires installed.
*A well-lubricated drive chain that is properly adjusted tells you someone took care of it. A rusty chain like the one in your photos tells me the bike had poor maintenance in general, with few oil changes etc. New chain and sprockets -- parts only $160, your labor.
*Check brake pads to be sure they have adequate life in them and that the brake rotors are not scraped badly -- $40 each front and read for new pads, your labor.
*Check control cables for ease of movement and proper operation -- broken levers mean the bike's been down and inadequately repaired.
*Check fork seals for leakage around fork tubes. Lots of oil mist means they've been leaking for a while due to lack of care.
*Check engine oil level BEFORE you start the bike. Look at the oil on the dipstick. Is it BLACK and filthy? Or brown and dirty? Smell the oil on the dipstick. Is there a burned smell? The oil should be brownish but NOT BLACK and sludgy. Again, you are looking to see how the bike was maintained.
*Check everything else -- body work for scratches -- you may not care but your resale value down the road takes a hit. Check for how the engine sounds, is it ticking loudly and grinding or does it sound healthy?
*How does the bike shift while riding? Smoothly? Or is it notchy?
There are a million more things to check.
This bike that you paid $1200 for, I'm afraid may not have been worth more than $500 when you list its deficiencies, starting with the chain and sprockets, bad fuel tank, and general malaise. I look at a bike worth $1200 as one where I pay $500 to buy it then another $700 to make it right.
I think it's always better to pay for a nicer bike at a reasonable price than to try to fix up a cheaper bike, unless it is REALLY cheap enough to make it worthwhile.
It's a lesson learned, but now you will have the experience for the next bike you buy.
We are all here to help and there are plenty of people here who can share their experiences with you.
Too bad you live in MN and we live so far apart. I'd be happy to help you with your bike. I see you are 17 years old. I was 16 when I bought my first bike and am happy to help others like the folks who helped me when I was a rookie.

Here's another one:

http://gstwins.com/gsboard/index.php?topic=42858.0

In this post, the owner was looking for $2000 for a gorgeous, well-maintained 1999 GS500 with 20K miles.  That bike was definitely worth its asking price. It needed NOTHING and was gorgeous.

See the difference?

So, POST SOME PIX of this bike, if you can, so we can see it a bit.

If it is pristeen, then it could be worth $1800 to $2000 easily. He may be crazy to seek $2200 if it has no extras, like Progressive fork springs or a Corbin seat, etc.

More than anything, if you don't know what to look for in a used bike, then get someone who does know to come along with you.
What seems a deal now will be expensive later if it needs anything.

Good luck and let us know how it goes.

Yours,
Trwhouse