Either option is possible. You'll find stories of people who put tons of miles on their bikes (usually in warmer climes), and bikes that have nearly no mileage on them for how old they are (I bought my '09 EX500 barely-used in July '12 with only 44 miles on it).
Someone on EX-500.com was asking about why their speedometer was reading fine, but the odometer was way off. It completely blew my mind, but they didn't realize that it was showing tenths. Despite the fact that the main odometer and the first trip meter have a tenths digit in a different color, and the second trip meter doesn't have tenths at all. He also said the previous owner agreed that the odometer counted fast.
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