What has the previous owner done on the bike in regards to maintainance? If the tires are good, the valves have been checked, throttle bodies synced, and chain and sprockets relatively new, that might be a fair price. I bought a 2002 last summer with a centerstand and bags, grip heaters and chain oiler, new chain and sprockets, and 20K miles for $4700 that needed new tires. But the guy that had it obviously took very good care of it, and had it since new, so I was reasonably assured the mechanicals were in good shape. Thing is, at least around here, used V's are few and far between. So there's really no market value. Usually there are more buyers than sellers, so haggling on price is not a factor. Since I put maybe 5K miles a year on the Vee, I'll never wear it out, so a used one, even at a large percentage of new price, made sense. If I put 20K a year on it, I'd have bought new. If I planned to be more than 200 miles from home on it, I'd also have bought new, just to have the warranty coverage during the break-in period. The only wrong answer, in my opinion , is not to buy a Vee. Other than that, you pays your money and you takes your choices.