My nephew is looking for a cheap bike or scooter to putt around town. He got max $700 to spend. I saw this bike close to where I live. Wondering if it will be worth to buy - he wants a decently running bike as he won't have much money to fix up stuff. We are going to go by look at it, but wanted some advice.

http://springfieldil.craigslist.org/mcy/2529897950.html

I love Nitehawks but have never owned one. But here in the Bay Area they come up every once in a while. For $700 you can get a very nice Nitehawk. I would keep looking personally. That would not be my first choice even for $600. $500? Hmmmm, if he wants a fixer upper and it runs and drives, then maybe.

Ok. So that tells me it is not worth more than $500 max. That is good to know. Good motorcycles are hard to come by in my area. Most do not have titles.

Its very hard to price old bikes like that.   Face it, 500-1000 is not very much in a time where a good set of bike tires costs 350.00.

The Nighthawk was an incredible bike in its day. Some might argue that its day is now with sales of new bikes being down 60%, but thats not the point.  The bike in the ad would be a great  bike to own. Valves never need adjusting since they are self-adjusting.  Condition looks pretty good for the bikes age. If its safe and needs small things done to it, go for it.  Really, even if you paid a grand for a old bike and sell it for 700 three years from now....big deal.

Interesting question.  The 84-85 Hawks were a sort of cult bike, pretty darn quick too.  I owned one for several years and often wish I had not sold it.  The biggest problem with these bikes is that the starter chain can sometimes break requiring an engine removal and splitting of the cases to replace.  If someone says the starter doesn't work, but it can be pushed off, run away.  Looking at the video, the bike was not cared for by someone who cares much about these bikes.  My heart says maybe, my brain says no.

What about the engine sound? Do you guys think it got any knocks or anything like that? It sounded a bit 'metalic' to me.

EDIT: Went and looked at the bike. Carb will need work - it is leaking and according to the owner, the bike does not have enough power. Decided not to get it.

Bought a new black and blue '85 CB700SC. Tweaked and farkled, pounded it for 45,000+ miles.
The only Motorcycle I regret selling. 
I still have a racing tape with Freddy Spencer in full racing leathers ripping around on one in a Honda commercial.

I have the 84 red cb700s. I paid more then I should have, but I always wanted one and when one showed up near me I grabbed it. I will NEVER sell it