For that price I would jump on it. Providing that it has the hrs. that are claimed.
Clean the carb thoroughly, flush the tank with some Methyl Hydrate after getting all the old fuel out, run the M.H. through the fuel pump as well to clean it out.
You should probably start with a compression test before considering the purchase anything below 140 and it might need some work. They come stock with 155.
Personally I would buy it no matter what for $400, clean it up and flip it for $1500, but I live in Canada and that is their selling price up here for a running ski.
Check Craigslist for the average selling price of a running machine, then add your time and material to that $400 and you may find a better deal.
Hope this helps.
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"Riding an '89' is a Splash from the past
PJS Exhaust & Waterbox
Mariner Head - Decked at 185lbs compression
38mm Keihin
Ported & Flow Matched Stock Intake
R&D Reeds, Cages & Stuffers
Skat 15
R&D Toploader Scoopgrate
Ocean Pro rideplate
Pump drilled for dual cooling
500gph rule
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