I recently bought a  '98gs. I paid what I thought was a good price, I paid $400 with 10k on it and the main work needed to get her running was new front forks, triple tree($235), and the carbs needed cleaning and oil change. So far Ive spent an additional $700 from the original $400 I spent on the bike, bring the total to about $1100. Im doing little upgrades like the rearshock(sv650, $38 on ebay) and maybe ill add a jet kit in the future. I bought the bike as a learning tool both to ride and to work on. Am I spending too much money( or did I already) for this machine?? What did you pay for it?? Whats a good price to sell?? Sometimes I feel like im wasting money( the speedtriple is my brothers)

For your 1st bike, why the heck not?
Money can be recovered, all you need is patience.

For the here and now, spend less time upgrading and working and more time riding, putting in new jets improves drivability, and i know The Buddah has dispensed a great deal of wisdom on this. Also see the gs500 wiki page.

I rode mine a while before uprading the performance, and now it has shyte the bed, so i get to spend more time working! Take it from me, change the oil, maybe the jets, and ride ride ride to learn how to ride.

Enjoy!

Also and this is from experience over the past year.

Dont go tossing a ton of money on brand new parts if you dont have to.
or grab the first part you find online if its used.

new front forks, triple tree($235)?
I hope you didnt pay $235 for Just the triple tree, if so... OUCH!!!
thats even alot to pay for forks and the tree together.

I just seen a set of forks end on ebay with a $19.99 bid. (not sure if they sold or ended with no bids)
woulda grabbed them myself if I had the $$, even if I dont need them!

this is THE best site you could have come across.

if you need help with Anything at all, I highly suggest posting and asking here first.

even parts, ask in the for sale section.

and def. didnt pay too much.
only paid too much for the parts if im reading it correctly.

I bought my 94 with 15K for $750.
after buying some OEM replacement parts that I needed brand new, I made a few of the same mistakes.

so anything at all, no matter how big or small, ask here first.

even for something like a rear shock replacement.
read you didnt wanna cut and drill but the SV650 shock requires it.
one example tho, a Kat600 shock is a direct bolt on upgrade with no modifications needed.

so just look, read, and ask if your not sure and dont want to waste money or work that you dont want to do.

Nice ride tho 

there are parts whores here.
I have now suggested we have some way to designate the parts whores - maybe $25 or so for a side-bar listing.
I hate seeing people spend too much for parts for a few reasons:
1. They buy from someone that charges too much (parts whores know who has the best prices)
2. The buy new parts (used parts can often be better and cheaper - especially for older models)
3. They don't know who the parts whores are.

Example of parts whore: I wanted the long stem NEW turn signals for Phenix. rare - as usually the new ones are on faired bikes so they are short. Found a set - but they came with the fork mounts. now I have an extra set of fork mounts for headlight and turn signals. And that's just one way we get to be parts whores: buy what you want and extra parts come along for the ride.

$300 for 2009 forks and triple is OK if in perfect condition and bearings are good. Bought a set for Phenix - PERFECT! Good forks go for $100-$200. Triples: you have to see how old they are and then you get good bearings. Rare for as triple to go bad except in a bad crash or an older bike and the bearings are rust (which was a problem with Trey).

I dont think your spending to much at all.  Just dont go crazy with upgrades and you'll be fine.  It looks like you have a great bike there.  Heck I would pay $1600 for your bike easy.  I live in Canada though and everything here is so freaking expensive.  Get out there and ride brother.
Cheers

I paid $235 for tripletree and forks together. I only bought the bike bc the forks were available on ebay so it wouldnt have been to much of a hassle. You know whats funny, I bought the forks before the bike and I bought the bike before I got my license. I started backwards from the beginning. Im glad I didnt pay to much for the bike and ive done alot of work myself. Theres such a unique satisfaction working on a motorcycle, doing upgrades and such. I LOVE IT!!! Lets hope she lasts