Hey, so I'm considering buying a new bike and can't justify keeping two. I love my GS but will probably sell to get a new machine. It's a '93 E w/ about 8k on it. Looks great and is in tip top shape. I'm a machinist and engeering student so I'm very picky about tolerances. With that said, my bike is maintained to all specs. What do you guys think would be a good asking price? When I see them for sale, the prices range quite a bit. So, what do you pros think?

Ask for $1500 then drop closer to reality, having bought and sold over 25 bikes, KBB for my zip code says under $1200 in Excellent Condition, your mileage may get you closer to $1500...it's still a 22 year old bike   

I'm no expert, but having just bought my GS maybe I can give you buyers perspective.  I wanted a GS and was indifferent on what year I got.  I passed up on a couple of 90's models because the sellers were asking just as much as GS's that were 10-15 years newer.  In the end I bought my '06 with 2500 miles for $1100.  It needed a carb clean, plugs, and oil change. 

In my market I don't think you will be able to get more than $1200 for it, probably.  There is a '96 listed in North Jersey Craigslist for $750obo.  The ones listed for more than $1500 -$1800 usually sit on CL for months and then show up on this forum years later under the thread "New bike been sitting for 2 years, need help to get it running."

The value of a "used" item is whatever somebody is willing to pay for it.  22 year old Suzuki gs500 is not a particularly sought  after motorcycle..

If your "asking price" is fairly high, you can easily negotiate down from there....

It's like fishing....you dangle the bait and see what bites.........

Run a craigslist ad and see....No response...lower the price...


Personally, I don't think I would want a 22 year old bike, unless it was some sort of classic or collectable.......I'd rather pay $2,200 for an '08 GS than even $100 for a '93...but that's just me....

on the other hand...say $1000 for an older but low mileage RUNNING motorcycle is a great "find" for some people.....

It also depends on how quickly you want to sell it.....

I sold my Honda Rebel in one second...but only got 1/2 what it was worth...(but that $1000 gave me enough to buy the '09 GS500 (new)....the GS was offered "on special" and way below MSRP...so I had to act fast...best move I ever made!


A friend had a non running, beat up Honda CB 360...put it on Craigslist for $800...go so many calls that he pulled the  ad ...ran a new ad for $1500 and sold it in one day!

Go figure!


Cookie

Quote from: FirstGS500E on January 14, 2015, 11:53:13 AM
Hey, so I'm considering buying a new bike and can't justify keeping two. I love my GS but will probably sell to get a new machine. It's a '93 E w/ about 8k on it. Looks great and is in tip top shape. I'm a machinist and engineering student so I'm very picky about tolerances. With that said, my bike is maintained to all specs. What do you guys think would be a good asking price? When I see them for sale, the prices range quite a bit. So, what do you pros think?

sell it in Florida, if it looks good in condition. you could easily get 2k for it.. might be worth the trip...

seriously. everything is over priced here on craigslist... and lots of people WONT go down to a reasonable price.

Quote from: NYNJ8 on January 14, 2015, 06:08:00 PM
In the end I bought my '06 with 2500 miles for $1100.

You didn't buy it... you pretty much stole it... what a deal! 

How much do NEW bikes cost in Florida??   Probably the same as everywhere else in USA?

Around here, I see dealers asking more for USED GS500 than I paid for my NEW one!  But nobody will pay that much for used, because they can go buy a new Honda, or Kawasaki...


Cookie

Quote from: J_Walker on January 14, 2015, 08:13:31 PM
sell it in Florida, if it looks good in condition. you could easily get 2k for it.. might be worth the trip...

seriously. everything is over priced here on craigslist... and lots of people WONT go down to a reasonable price.

I just searched florida Craigslist....not many GS500 for sale...some really cheap....two high priced...one of those is from a dealer so that's expected...the other is a home brew "custom" which is not worth what the seller is asking..

Couple others are prices right...

Florida is not any different than any other place...

Cookie

Quote from: J_Walker on January 14, 2015, 08:13:31 PM
sell it in Florida, if it looks good in condition. you could easily get 2k for it.. might be worth the trip...

seriously. everything is over priced here on craigslist... and lots of people WONT go down to a reasonable price.

Quote from: illenium on January 14, 2015, 09:03:51 PM

Quote from: NYNJ8 on January 14, 2015, 06:08:00 PM
In the end I bought my '06 with 2500 miles for $1100.

You didn't buy it... you pretty much stole it... what a deal! 

Yeah the seller had a fuel leak from stuck floats and the resulting issues led him to the conclusion that his bike was broken. He felt guilty selling it to me and I felt guilty buying it. I think if he knew that the bike was good as new for under $100 he'd be pissed

Quote from: NYNJ8 on January 16, 2015, 12:21:42 AM

Quote from: illenium on January 14, 2015, 09:03:51 PM

Quote from: NYNJ8 on January 14, 2015, 06:08:00 PM
In the end I bought my '06 with 2500 miles for $1100.

You didn't buy it... you pretty much stole it... what a deal! 

Yeah the seller had a fuel leak from stuck floats and the resulting issues led him to the conclusion that his bike was broken. He felt guilty selling it to me and I felt guilty buying it. I think if he knew that the bike was good as new for under $100 he'd be pissed

He should only be pissed at himself...Nice pickup, sir.