All depends on who you are and what you're willing to pay.In my opinion,there are too many fools out there that think they're sitting on a pot of gold.For example,there was a guy about 1 1/2-2 years ago that had a brand new 04 K5 that never even had gas in it,I can't remember where he was located....he started by asking $10k!!...after about a year,the price had dropped to $5k,and I think it sold.
I constantly see money hungry fools listing older BEAT-UP K5's for $2500-$$4000...and I want to so badly e-mail them and ask them if they're "plugged-in"...cause it's never gonna sell.
Look on e-bay right now...there's a 92 on there that the guy has listed for "Buy it now" for $2900,or the starting bid for $1999...I would'nt offer him any more than $800 for it...because you can be sure it needs at least $1500 in repairs that the naked eye can't see.
I paid $1500 for my 95 in June of 2011...a little high,BUT I knew I was going to be tearing it down and doing it completely over....since it will be one of the last bikes I buy.Between Kawie parts and a few aftermarket items...I'm into it for about $7500...but I'll NEVER get that back,I'd be lucky to get $2k.
Again,it all depends on how bad you want it,and what you're willing to pay....another way to look at it is,I think a brand new K5 went for about $5k in 04,give or take,so how much more than that would you be willing to pay for a brand new,never used K5?.