Back in June of 2011, I got a call from my Dad telling me that his buddy (who owns a cycle shop that generally deals with Harleys, cruisers, etc.) had just purchased a CB550, cheap.
At the time, I was in the market for a 550 engine to swap into my CB500.
I went to take a look at it and heard it run. After sitting overnight, it was smoking a little out of the #1 pipe. The guy who brought it in had played with the idle enough to mask the smoking.
It also needed tires, a little brake work. I offered the new owner double what he paid for it and rode it home. Oh, did I mention a clean title?
Here's what $500 gets you.