Quote:
Originally Posted by Nautilus
He threw out a lowball offer of $100, and said he does not need a title or bill of sale because he is going to part it out himself. Is that legal? I do not intend to take his offer but figured anyone purchasing would want the title and a bill of sale document. It sounded shady, but I'm not sure if I am just being overly cautious. Thanks!
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Should be legal. However, verify with procedures in your state. Here in CA, seller still has to submit "release of liability" form indicating you no longer own bike. That way, even if buyer does not transfer title to their name and gets into crash, you're not liable for anything that happens after sale. He would only need title if he intends to sell frame and next buyer wants to build bike back up completely to register and ride (not likely).
Parting out bike can collect over $1000. Just plastics alone are going for over +$300/set on fleabay. Good rust-free tank is $200+. Some people are even parting out perfectly good engines and nickel & dime every little part. Early pre-'95 cams have more aggressive profile than later models and can be quite valuable to racers. I've even seen clutch-cable adjusters on levers going for $10 and lockwasher-ring for $5. Complete lock-set (ignition, tank, helmet-lock) with keys can go for $100.