I've come across a mildly damaged '88 1500 with 44K miles for what I think is a reasonable price. My thought is to fix it and sell it for a couple hundred bucks profit, but I want to make sure it's worth it first. What could I expect to get out of it after repairs? I'm thinking $3500-4000, but I'm open to other opinions regarding price. There's not many of the older ones for sale around here to compare to.
I guess it would depend on the repairs that it required, and the maintenance that it would require to sell it for that price.
I would consider (For my area), $4500 to be top dollar for a wing that is 25 years old. For that, I want to buy a wing that would require me to do nothing to it except oil changes for a few thousand miles.
So if you can get that wing for around $1500, put a couple of thousand into it with tires, timing belts, fork seals, fluid changes, brake pads, shock rebuilds etc...., you may make a grand on it.
I wouldn't pay more than 1000 max for it. The best of the 1500s started in the '90 model. That was the first one with the five pin driven flange and no hesitation issues. There are too many good later model 1500s in riding shape for the price you're quoting to make this one sound like a good deal.
Glad to know I was relatively right about the price after repairs. After going to look at it, it needed $1000-$1200 in cosmetic and mechanical attention, rather than the $500-$600 he made it sound like on the phone. He wouldn't go less than $2500. I passed.