Craigslist project bike pricing
I have noticed an odd trend of late on my local CL. The ad usually goes something like this.
2005 Yamaha R6 Been down and needs new fairings and headlight. Parts are available on ebay for $1000 10000 miles, runs great, blah blah blah $3500.
In my area an 05 R6 goes for about $4000. So if I get this one and want to fix it, by the time I'm done I'm going to be at the exact same price as if I bought one in good condition in the first place. Just doesn't compute to me.
Even if they are going to make a streetfighter out of it a $500 dollar savings doesn't seem like enough of a bargain to warrant buying the bike over a known good one.
I would much rather go to an insurance auction and get one for say $1200 to turn into a fighter.
Anyone else notice this or can point out the flaw in my logic to me?