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Its a buyers market right now. I can tell you this after selling and buying in the past few weeks.
Check everything like engine number and vin correspond to paperwork.
Ask and check for all receipts for any work done.
Its an old bike, Ducati seems to suffer with fasteners, check the high use ones for stripping or damaged heads (I found finding these on my recent purchase annoying) gives you an idea how careful the owners have been.
Ask to check the air filter. If your serious about buying, get a new oil filter and oil and change it before you buy. I did this. told the seller he could keep the bike, oil and filter if there were any shavings in the oil screen, he was ok with this and the screen was fine. If he didn't allow me to do this I may have just walked.
I reckon in todays market, I would say $4000 to $4500 if everything checks out.
Ian Falloon does a great book on buying desmo twins, the sections on question asking would be universal to all models well worth a look.
 
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