Personally, I would move on.
Here's how I look at salvage bikes.I'm pretty handy but I don't have a garage so if it's a major project that presents a bit of a problem as I would have to borrow the space to do the work.
Are you saying this bike specifically or SVs in general?
^ Good advise right there!Here's how I look at salvage bikes.
You find a bike with a good reputation as a reliable steed. SV fits this wonderfully.
Next, you plan for the worse. Hacked wiring harnes (IE electrical gremlins), broken locks, bent wheels, wear items that needed replaced long ago (tires, chain, sprockets), Has the oil EVER been replaced? Check the oil, is it the right level? The oil will be dirty, but you can tell if it is really old.
If any of these things scare you or stand out when you look at the bike, walk away. If you need to pay someone to fix the bike, you will see the profits of buying a salvaged bike quickly dwindle. Also, you need to know the laws in your state. It varies from place to place in how difficult it is to register the bike for the street. Also check insurance. Some carriers WILL NOT insure a salvaged bike.
Make sure it isn't stolen. The problem with the tank says to me that the original ignition is gone and was replaced at a later time. check the back seat lock, does the ignition key open it?
Like I said, just make sure it isn't stolen. New ignition and a new paint job are BIG red flags. Verify the VIN on the title and Frame. The vin is stamped into the headstock of the frame. It should be also listed on a sticker on the frame on the clutch side (these are sometimes removed).I already assume the ignition has been changed out (probably when he painted it to sell) so I am prepared for the locks to be different.
So w/what I know you guys think $2300 is too much?