Topic: Looking for Advice on Buying a CB550

[Paul Bater]

Hi All,

I've been looking to buy a CB500/550 for a little while now. I found one within driving distance and it looks like a nice example. Its a 1975 CB550K, all original except for a new NOS exhaust. He's asking $2750, all maintenance performed from the sounds of things. I tried posting a few pictures but the files were too large to attach. I was wondering if you wise guys could offer any advice on the price, which sounds reasonable to me, or offer me anything that I should check for on these models. I've bought used bikes before, but none this age, and this would be my first SOHC CB. I appreciate your help. I have searched the FAQ's briefly, but didn't see any 'buying' tips. I apologise if this has already been covered.

Thanks
Paul

[doug_id]

I am new to these bikes....but that sounds pretty high to me.   

[ProTeal55]

That is a boatload of cash for a CB550, or any of these bikes...

[Jonesy]

The key issue to look for on these bikes is the valve rocker arm setup, which was prone to wear. The valvetrain is integrated with the valvecover, with a set of 4 shafts inserted through the ends of the cover to carry the rocker arms. On the earlier models, it was possible for the rockers to bind on the shafts and cause the shafts to twist back and forth with the rocker action, causing wear at the shaft mountings and in extreme cases wearing right through the end of the valve cover. In 1976 this issue was corrected by adding bolted locks at the end of each rocker shaft. I think there were a few posts on how to check for this..

To me, that sounds like a lot of money to ask, but I don't know the mileage or how good it looks. If it was extremely low mileage and concours condition, possibly. I paid less than half that for mine and mine was in very good shape. Remember, it's only worth what you're willing to pay...

I can consult with my Honda price guide when I get home...

[Paul Bater]

Ok, looks like its expensive I guess! Thanks for that. To be fair it appears to be excellent shape, its a shame I can't post the pictures. Chrome looks great, paint looks great, the whole things looks almost new in pictures. Mileage was 19000 or close to it.

As for the valvetrain problems, I'll see if I can look that up and find a way to check for it.

I appreciate the help guys.

[Paul Bater]

This might work instead. This is the ad on cycletrader, there's a picture on there thats fairly high resolution.

http://adcache.cycletrader.com/5/7/9/88292979.htm

[Jonesy]

Another thought, if the owner just put brand new factory exhausts on it they might be trying to recoup the cost as new pipes from the dealer are about a grand just for the set..

[ProTeal55]

This might work instead. This is the ad on cycletrader, there's a picture on there thats fairly high resolution.

http://adcache.cycletrader.com/5/7/9/88292979.htm

Does look to be a nice bike, and close to my house as well 

[WJL75]

I paid $700 for a running 76 550K back in Sept.  I'd bet you could find one for less.  Even in excellent condition blue book is still well under 2K. 

http://www.kbb.com/kbb/Motorcycles/Trade-In.aspx will show you what they are going for in your area.  As an example

1975 Honda CB550K1
4-Cylinder
4-Stroke
550cc

$715

It does not matter if they just put in a new engine, carbs, exhaust, the bike is only valued at that amount.

I've put about 1K into my bike since I bought it (cafe conversion), and will not be expecting anything more than what I paid for it.

[Jv550]

It's a beauty (I love the orange!) but for that price you ought to be able to buy two or three 550s. Remember you will end up putting more money into it no matter what...

[bwaller]

Go for it my good man, but offer them something less. In my opinion a bike in that condition SHOULD be worth that money. A lot of people have paid a G for something way less and turned around and thrown a bunch of cash at it. This one is cosmetically very fine and usually when they're this well kept, they run as well as they look. Just verify that it does.  Ultimately you'll spend nothing but time in the saddle!

Good luck

[Paul Bater]

Ouch, $1000 exhausts! I knew they were expensive but not that much. I'll ask him about it plus anything else he may have done.

As for KBB, I tried it but it said there was insifficient data to give a value. I'll try again.

I can always offer him something less, like you suggest. Whats the worst he can say?

[ProTeal55]

I can always offer him something less, like you suggest. Whats the worst he can say?

" I just sold it to some kid who goes by the name ProTeal55..." 

[TwoTired]

A CB550 for that price should look like new and need only routine maintenance for the next two years.
The trick is to determine if it is truly in that condition.
It should have 10K miles or less.
New tires
Brake fluid should be new.  Front brake works well and doesn't drag/squeal.
No leaks (though with regular use, it WILL start weeping at the cylinderhead, provided it still has the original o rings in the oil passageway)
New battery
New fork oil, perhaps even new fork seals.
NO dents, bents, or scratches.
Seat soft and supple.
No rust inside the tank.
The fuse clips should be bright and shiny.  This is a general indicator of the electrical connection condition throughout the bike.  These can all oxidize over time and give poor charging, intermittents, melted fuses, etc.  It's about a day's work to clean and restore all these connections and return them to reliable status.  For $2750, this should already have been done, or the bike has been stored and kept in such a way that the connections are as new.
The chain should be new.  Or, if original, not a spec of rust on it.
Starts quickly with choke, idles smoothly at 1000-1100 RPM, after brief warm up, (time depends on outside temperature.)

The NOS exhaust is worth $700-$900.  If you like that exhaust (I do), just tack that on to what you would pay for the bike.

Most of us here work on these bikes.  We'll put a couple thousand in parts into a bike we have or have gotten cheap.  But, we won't pay someone else to do the work for us, or for storing and maintaining a fine example for many years for us to enjoy after purchase.

If the bike has more than 10K miles and has been restored, then it is prudent to check for rocker shaft cam cover wear.

On the inside of my 1974 CB550K owner's manual is the notation:
Purchased 3-30-74  out the door price $1880.49 which includes crash bar,tax & license.

What is a 1974 dollar worth today?

Cheers,

[Paul Bater]

"I just sold it to some kid who goes by the name ProTeal55..."

How about, I just sold it for $400 to a guy named ProTeal55!

[ProTeal55]

"I just sold it to some kid who goes by the name ProTeal55..."

How about, I just sold it for $400 to a guy named ProTeal55!

Whatever works for you is fine with me 

[Paul Bater]

Well, I'm glad I asked the questions. I thought the price was pretty fair considering the condition of the bike and what the guy had recently done to the bike. Most of the CB's I've seen for sale online in this kind of condition, were asking about the same price. What they actually sold for, I have no clue.

I took your list of checks TwoTired, and I'll be sure to ask/check for those things. I did find a buyers tip that tells how to partially check for rocker shaft wear without having to remove the entire cover. So if it comes to that, I should be able to check it without having to disassemble the bike on his driveway! Whats a 1974 dollar worth you ask? About $4.50 to $5.00 in todays money, give or take. So thats a $9400 bike! Man, I'm getting a deal!

As for working on the bike.......I'm looking forward to working on it, I just didn't want to have to fix all kinds of stuff as soon as I got it home. Fixing and maintaining the bike, is half the fun.

[USN20]

According to my inflation calculator: http://www.dollartimes.com/calculators/inflation.htm

$1880.49 in 1974 would equal approximately $8002.17 in 2006.

As a side note, Looks like the 1974 "Six Million Dollar Man" (Lee Majors) would equal approximately $25,532,188.84 in 2006 

http://en.wikipedia.org/wiki/The_Six_Million_Dollar_Man

[Jonesy]

According to my Honda Price Guide:

1) Excellent- "Restored to current maximum professional standards of quality in every area, or perfect original with components operating and appearing as new." -$2,000

2) Fine- "Well-restored or a combination of superior restoration and excellent original parts. Also, extremely well-maintained original motorcycle showing minimum wear." -$1,600

3) Very Good- "Complete operable original or older restoration. Also, a very good amateur restoration, all presentable and servicable. Plus, a combination of well-done restoration and good operable components or a partially restored motorcycle with all parts necessary to compete and/or valuable NOS parts." -$1,200

4) Good- "A drivable motorcycle needing no or only minor work to be functional. Also, a deteriorated restoration or a very poor amateur restoration.  All components may need restoration to be 'excellent', but the motorcycle is mostly usable 'as-is'." -$900

5) Restorable- "Needs complete restoration. May or may not be running, but isn't weathered, wrecked or stripped to the point of being useful only for parts." -$600

6) Parts Bike- "May or may not be running, but is weathered, wrecked and/or stripped to the point of being primarily useful for parts." -$400

Taken from "The Ultimate Guide to Honda Motorcycles", by Doug Mitchel, 2005, kp books.

[Paul Bater]

Geez, I guess noone is getting rich fixing up and selling these things!

From the pictures he has sent me and a bit of reading between the lines, I'd say it falls into the #2 to #3 categories, so he's asking twice what its worth, give or take. That's going to be a hard sell as he's only had it up for sale for a week or so.

Thanks for looking that up for me. Much obliged.

[masonryman]

Anything is worth what YOU are willing to pay for it. I just traded a 97 Nissan sentra for a 1990 ZX 10 who got the deal ?

I think if the price is not going to put you out, and you want it, you should buy it. The exhaust is worth a good bit of the price, just keep in mind unless you keep it for a very long time you will not make money on it.

I for one am a sucker for a basket case, but I am sure with time figured in that price would not cover the cost of the project.

Mark

[Paul Bater]

Yeah, I know how that all works. Its worth what someone is willing to pay for it. I know from buying a well used Nighthawk for commuting, rather than a less used Nighthawk, so I could save $800-$1000 turned out to be bad economics after about 6 months. By that time, the POS Nighthawk had sucked up the $1000 I 'saved' plus more.

I also tend to be a little sceptical of price guides or value guides, as they're often based the prices given to  the State when transfering titles. In order to save a few bucks on taxes, most people tend to lie about what they paid. But they're good for at least getting a ball park price.

I'm suprised at how cheap the 500/550s were valued at, as the nice ones I've noticed over the past few months have been asking far more the $2000 concours price, the guides give.

Its certainly my intention to keep this bike for a long while, which means that the initial price paid becomes less significant when compared to the costs of parts, maintenance, gas and insurance over a few years.

[Gordon]

If you want a bike NOW, and you really want that particular bike, then I say go for it.  However, if you don't mind waiting a few weeks and looking around (check craigslist), you can save yourself at least a grand and find one in comparable condition.  It probably won't have NOS pipes, but as long as they're in good condition without holes, then the only real difference is the price. 

[dagersh]

Paul,

If that bike looks as good as the pics and description, it is proabably worth $2,000 to $2,500 - if that is what you would be willing to part with.  Remember - although the tires look good in the pics, you may want to replace them immediately.  Also, the seller represents a new chain installed - make sure that the sprockets are new as well, old sprockets will kill a new chain PDQ.  These are two items you can use to work him down from the asking price.  Also, gently remind him that the first offer is always the best (ask the Gent whose house I did not buy  - he is still sitting on it 1.5 years later!)

Take the bike for a ride!!!!!  (ask me sometime about my '73 CB500 which looked great, started up, but 3 years later has still only taken me about a mile before all Hell broke loose!)

Let us know how you make out.

Gersh

[bill440cars]

        Mark, I too, seem to get basket cases and the thing is, I have no problem modifying them.

        Hey Paul, like Mark said, unless you keep it for a very long time you won't make any money on it. Thing is, are you looking for a bike to build on or to keep in shape and ride? If you can mange the price and the bike checks out real good, I'd say get it if you just want a bike to ride and maintain. Now, if you are wanting a bike to modify, I'd say pass it up and keep looking. That's my Honest Opinion.


                                                     Later on, Bill