Boy, wish I had the money. Someone is selling their 88 with ~200k miles for a steal. So what sort of things could be wrong with the bike mechanically at that mileage...besides stuff like belts, seals etc.
It really depends on how well the bike was maintained. It may need nothing at all, or it may be a worn out piece of junk. But it is probably somewhere in between. get as much info as you can about the bike. If the price is low low, then you can afford to put a few bucks into it if it is needed to get it up to par.
Just be aware that if you buy it you probably would be stuck with it as there's usually a reason for a bike being priced low. High mileage is a sale killer, no matter how well it's been maintained. It's a psychological block most buyers can't get over.
Paid 2500 for my 93.
But it had set up for about 2 years.
Carbs and vacuum lines, oil and all filters had to be changed. Tires and a good cleaning.
So yes be careful on that one.
103,000 miles on mine.
Hard to say what might be needed but there's a fellow near here that has a '93 with 360,000+ miles on his and the only thing other than routine maintenance stuff he's done to it was to replace the clutch somewhere around 300,000 miles or so. At $2000 if the thing runs at all it ought to bring at least that much if one parted it out. It wouldn't be worth it to a person that isn't prepared to do their own work on the bike, shop time is too expensive for anything but the simplest work.