Bikes with higher readings dont actually mean they are shit. I would rather buy a bike with 30,000km that had been look after and serviced than a bike with 10,000km that had only been filled up with petrol since the day it was bought.
Bikes are hard to judge because often they are kept as a second form of transport and just used in the summer months on sunny days when the cafe racers who own them have nothing better to do. So they dont rack up the km that daily ridden bikes do.
The year of the bike and the condition is more important to me, but as a general rule a lot of bikes will start to have more trouble and need more attention above 60,000 Km. If they have had a poor level of service. Which i'd say at least 50% of the bikes on the road have had at most, after the warranty expired!
depends on the bike.. i mean.. expect to have to do things like chains, sprockets, fork seals etc.. little things that dont usually get done. but as for engine itself.. if it has been looked after then there is no reason why it shouldnt be a good bike. My 03 r1 had almost 90 000 km and showed no real signs of wear (no blue smoke etc.. i am sure it lost a few ponies since new but still pulled pretty well). that included on average 6-10 track days a year so..
that said.. it would have to be a very good bargain for it to be worth it. There are plenty out there showing less km's which will make the resale easier. Be mindfull that km shown on the clock may not actually bear any resemblance to what the bike has actually done. so over all condition of the bike is more important than the km shown.
At this point in their lives mate, the kms on the clock are getting less and less likely to mean anything, engines may have been swapped, clocks may have been swapped... Look for smoke on cold start or when revving, or ideally get a compression check done, that will tell you a lot more about the engine than the number of kms on the clock will.
Also, as per what Cerberus said, check for fork oil around the fork seals, check for good chain maintenance, check for all the sort of stuff which will cost you as much as engine repairs but is -much- easier to look for.
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