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Discussion in 'Road Warriors' started by King_Panther13, Jun 6, 2011.
I think this is your best advice yet.
donno what your time is worth but to rebuild a bike like that from nubbins and make $1500 profit means you have to 1. lie about the bike's history to the buyer and 2. lie to yourself about whether it's actually worth it.
DONT DO IT! for $2500 you could have an early sv650 or fz6 in decent condition which did not require a penny more. I wouldn't touch this bike with a 10 ft pole unless I was going to part it out. It looks like a money pit.
So, in your opinion... If a bike goes down, and has everything repaired to the way it was before it went down, and it still has a clean title.... How much less is it worth than one that's never been down? Assuming the repairs were done properly of course.
I've gotten a couple offers on mine since I fixed it up, one for $3500 and another for $4200. I didn't take them because I like the bike.
I wish you were there to tell everyone I was bidding against when I bought the wreck how worthless it was. You may find this hard to believe, but some people actually enjoy the project itself.
Good thing I didn't ask you guys if I should fix my 05 CBR after I got into a contest with it at the track last year to see who could do the most flips - neither of us won.
My bike was in about the same shape as the one the in the OP - exploded front fairing, broken fairing stay, bent subframe, broken clip-on, etc. Heck the key is even bent almost 90 degrees - I still use it so I'm reminded to keep the rubber side down. I put about $1k into fixing it but a chunk of that was just fluff for new stuff that I could have gotten a lot cheaper. It helped that my forks checked out OK and nothing in the front was tweaked - I guess it landed right on it's nose. I got everything from guys parting out bikes online. Since I already have a CBR 1kRR for the street and this was a just a toy for the track I went ahead and made it a track only bike.
Like in the OP's case this was just a hobby for me to pass the time - in this case while my broken bones healed. I can't say if the one he's looking at can be fixed as cheap but if the frame and basic drive components are OK and the price is right it can probably be brought back to life without a lot of drama.
Before (last fall)...
Two weeks ago at the track (with my delux rattle can paint job) and it seems to be running pretty good...
Sweet paintjob Bimmer! It's nice to see someone else that's actually done this kind of project offering their take on it.
I hope someday when I can afford a trailer and full leathers to start running mine at the track. It's really what these bikes were born to do.
Except, of course, as I point out the obvious, he really hasn't done what the OP is asking about. He already owned the bike, so he wasn't assuming any financial liability/burden; if anything, he was recouping lost value by rebuilding his own wrecked bike. Further, he was fully aware of the complete history of the bike and the exact nature of the crash, which also serves to minimize any risk/potential downside.
I'm not looking to bag on anybody, but you guys seem to have unnecessarily gotten all defensive about the whole thing, even though, and while ignoring the fact that, your situations are not the same as that of the OP. In order to solicit the best advice, the OP provided a number of specifics with regard to his taste in bikes, his financial situation, and his mechanical background/abilities. Reviewing the OP's remarks in full, in light of his particular situation, I think it's entirely reasonable to conclude that what worked out well for you guys *may* not be the best move for him to make--i.e., he doesn't have a lot of money, he doesn't particularly yearn for/want/like a sportbike, and his motorcycle mechanical experience doesn't seem to reach past the late seventies/early eighties.
Folks on here are just providing their opinions about a specific situation of a specific individual when specifically asked--exactly as you guys should--no reason to get your backs up and (mistakenly) feel that anybody is criticizing your decisions/actions. It's important to look at the situation from his perspective/circumstance, that's all.
your question is impossible to answer, every bike/situation/crash is different. i'd say your rebuilt wreck isn't worth much at all...not to me, at least. no way i'd buy a completely crashed-to-bits wreck from some dude on the street for full market, much less half market. i don't care if you're factory trained or whatever. once a bike goes through a serious crash, no telling where the rebuilder decided to cut corners or what they missed.
you may find this hard to believe but if you showed a pic of the wreck before you rebuilt it to *most* buyers they'd either walk away or adjust their bids downward. it's no secret that some talented wrenches buy wrecked bikes in order to rebuild and resell. it's also no secret that most of them won't disclose the full history of the bike...which is why clean title wrecks get such good money and you had yourself a bit of a bidding war.
while you may enjoy the project, most people don't want to pay full market price for what could be a worthless ticking time bomb...the buyer has no reason to trust your mechanical abilities, after all, you have a financial incentive to sell the bike as OK.
i stand by my earlier statement...an honest seller will NEVER get full market for a significantly rebuilt bike...your pics are well past "cosmetic damage only" and so your bike is worth jack to anyone but you.
I don't mean to beat a dead horse here, but you're dead wrong. Just because something isn't worth anything to you doesn't mean there aren't 1000 other people that would gladly pay top dollar for a bike like this. I know this is true because I see it every day. Here are a few examples of bikes with disclosed histories of crashes *SOLD* for the prices I mentioned. It may not be the case with most bikes, but a 600rr maintains a good chunk of it's value even after a crash.
If the OP's bike in question were closer to me, knowing what I know now, I would at least go take a look at it.
Here's another scenario to consider.
Suppose you were 19 or 20 years old. You've been saving your pennies for a while to get your first bike. I know a 600rr is a HORRIBLE choice for a first bike, but that certainly doesn't stop most kids in this situation. A few of your squid buddies have sportbikes probably GSXR's, R6's etc. , and you want to ride with them. You see that one or two of them went out and bought a brand spankin' new gixxer, and dropped it/looped it the first week he had it.
So, you think to yourself, maybe there's a good chance that can happen to me... do I really want a brand new bike? Why bother, when I can get a shiny used one for around $5500, never been dropped, etc... Keep in mind MSRP on a new 600RR is $11,199, this isn't an SV650 we're talking about here. So you think, no problem, I can handle the payments on a $5500 bike, and be riding this summer!
Then you you get an insurance quote.... $2000 a year Now that mechanically sound, rebuilt bike that your buddy is selling for $4000 is looking a little more attractive. Especially if it's the difference between getting the model you really want, or settling for something else. Or worse yet, having to wait till next year when you can actually afford it.
The bike might not have value to YOU, but it might have alot more than you think to someone else.
One last thing to consider, when he eventually does drop that bike, the bike that was once wrecked but is still clean on paper will be worth exactly the same as one that was never dropped as far as the insurance company is concerned.
I just saw this post.. here is mine:
A guy from work crashed it some years ago and kept it while he finished paying for it. I bought it for $800 bucks.
It's a 2005 with about 15k miles. When he crashed the bike went into a rock hitting the front wheel which destroyed the wheel and the fork which was actually lucky cause they absorbed a lot of the impact. The subframe was a bit crooked too.
I decided (my wife ordered me) to take my time and get the parts only if they were a GREAT deal on ebay.
Complete front end (perfectly straight and not a single scratch) with calipers, clip-ons levers, lines grips.. for 615.
Found a set of wheels CRAZY good deal for $200.. BOTH
Radiator for 140
OEM lights and cluster aluminum holder thing for 155.
Plastics (tail and front fender) 80.
Front tire, nice used almost new pirelli diablo for 40.
Battery AGM for 30
Shipping charges, oil etc... 150 maybe.
Piece of leatherette to fix rear seat 5.
Buell lights $80
Grand Total $2315
I will buy at some point a subframe but since mine is usable I am in no hurry at all.
Since I had some extra good parts left over and I didnt really like the oem lights
front calipers/lever for 80
Oem headlight 130
Extra rear wheel/tire/sprocket 180
Some plastics 80
Right clip-on 15
So... for about 2 months of collecting parts and 3 days working on the bike and $1830 bucks I have an awesome bike.
Runs great, I've tested it, checked it and double checked it, done about 4k miles on it already without a single problem riding it every single day!
That thing is hosed, and without a frame jig you don't know where or it its tweeked. I had a roomate whos friend wheelied his bike into the back of a jeep.
The shop actually had the bike back together and didn't notice until they were putting the fairings back on that the headstock was bent, it simply wasn't visible.