CB500 twin....a good deal?

While out for a ride today, I pulled into a bike shop I've never seen before (way out in the boonies). The guy had a late model CB750 that was junk (and way overpriced), a Triumph frame with bits and pieces and a late 70's/early '80's CB500 twin.
The twin looked to be in decent shape minus a torn up seat. He said it needed a starter and some kick start work, but runs fine. How he knows that w/o a starter or kick starter, I don't know....
Actually, I didn't get into all the details because I had no intentions of buying the bike at the time, but the more I thought about it, the more it called my name. He's asking $500. I bet if I started laying hundred dollar bills on the seat I could get it for less.
What's the story on these Honda twins? Is $500 a good price for a complete but non-running bike? I could go back for more info but that might show my hand....

*EDIT* After searching through some images, I'm guessing it's a mid-late '70's bike.

Crap! I didn't mean to post this in this section...Moderator, please move to the Lounge. Thanks!

well, a late 70's bike with a clean title is getting to be worth more and more... though unless you see it running, it's not a running bike (my philosophy), but I'd say grab it if he can start it up for you, chances are good you can make something nice out of it for less than $1k

If you are talking about the CB500T it is either a 75 or a 76...the only 2 years it was made. It was basically the final version of the DOHC 450.

Anyway, the bike does have some quirks, and some parts are hard to come by, but as the biggest CB parallel twin it can make a nice cafe racer.....the tank is probably the best looking stock CB tank in my opinion.

I currently ride 2 of them....well sorta (a 500T done in a british cafe style and a CL450 scrambler with a 500T engine & front end).

pop it into gear and roll start it. just like the racers do 8)

this is my first post but should start things on a good note.

this is my current CB project, (I have a 77 550 waiting for it's turn)