Suzuki 2 Strokes

Hello all! My first post on this forum, I think I'm going to really like it here though. Big fan of all old motorcycles.
I recently acquired an old GT750 from a relative that found it for cheap at an estate sale she was helping out around. I currently have a '74 TC125 that I love riding around town. Knowing this she got the 750 and gave it to me for free. So I have absolutely nothing into this bike, but what I do next is something I think I need guidance from a more experienced motorcycle enthusiast.
So I am really torn between fixing it up and giving it the best restoration a beginner could, or just selling it for a little extra money (college student). I really love the looks of it, but it is in very rough shape. I have added some pictures of the bike in an photobucket album. It sat since 1991 outside covered with a tarp. The engine is in surprisingly good condition though... good compression on all three cylinders. Gears all seem to cycle through and work. Clutch is a little weird as it is always engaged though. There is no battery so I had to hook it up to my car battery... all the electronics work on it (headlight, horn, blinkers, dash lights, e-start). Gas tank has no holes. Sadly the carbs that came with it are not in good shape and will need replacing, and the only thing that was missing on the bike was the airbox and the air intake boots. The back wheel was locked up when I got it, turned out the brake shoes had stuck to the hub and needed to be pried out. It was not stored with coolant or brake fluid in it though, so I have no idea how the front brakes or the cooling system are. The master cylinder is seized. It sparks when I connect and pry the points open manual, but the points are so corroded that they are junk. Other than those things though, it is a pretty solid bike mechanically.
The really intimidating part of this possible project is the rust and the chrome and the aluminum. It is covered in rust... almost all the chrome is destroyed, and the aluminum engine (which is so pretty new) is corroded. I have experience with taking apart engines and fixing mechanical things... but no idea on how to fix anything cosmetics. This is why I had the idea of selling it.
My question for everyone is: what do you think? Is this a good project to get learning on, or is it too far gone? About how much would cosmetic work on this scale cost? Or would you sell it if you were in my shoes? If so, how much do you think it would be worth?
Thank you all for the help. Your experience and wisdom will be much appreciated!
Album with pictures: http://s21.photobucket.com/user/JDG357/library/GT750" onclick="window.open(this.href);return false;

Hi and welcome!

That's a heck of a nice gift to get, and no mistake. But I would say that restoring it would be a BIG task. If it hasn't run for 25 years, the crank seals are likely to have perished and will fail ... that's around $1000 dollars for a crank rebuild right there, and that assumes that you remove and tear the motor down yourself. And if you've torn down the motor, you should give the cylinders a rebore and new piston kits ... and maybe a couple of the gearbox cogs or bearings could need replacing too. So that's easily $2000+ on the motor alone. Then the carbs need doing ... and the electrics ... you get the picture.

At the end of the day, it all depends on your appetite for working on the bike, and I don't want to negative: just realistic about the scale of the task.

My 10 cents is: advertise it and sell it on.

Thanks for the quick response!
Yeah.. I completely agree. I would really love to learn how to fix it up and restore it, but maybe starting on a more affordable task would be wise!
However, I really have no idea how much it would be worth. How much would be a fair asking price do you think?

Price-wise, I've no idea what the market's like for classic 2-strokes in the US, unfortunately - hopefully someone closer to home for you will chime in, and have a look on eBay to see what bikes in similar condition are going for.

However, if that bike was for sale on eBay in the UK, advertised honestly as "barn find, non-runner, basis for project", I would be surprised if it made LESS than £1,500 (about $2,100 US). But this is because the market for 70s classics is red-hot over here at the moment: a decent, running and roadworthy GT750s will sell for £4 - 5,000, and a fully restored / rebuilt bike a lot more.

And because the top-of-the-range bikes are going up in price, so are the smaller 380 & 550 triples too.

Enjoy that TC125 - they're a pretty rare machine themselves, and the rarer 70s trail bikes are getting valuable.

In the US there are still a lot of barn finds in much better condition for 200-500 bucks. Unfortunately that one is very rusty and almost all the external parts would require extensive refurbishment or replacement and the motor will cost around $1,000 in parts and service to rebuild if you do the work yourself.

Without a title it has very little value to most people unfortunately.

The good news is that it has Strader 3 into 1 exhaust and they sound way cool.

I have no idea how someone kept track of the title for 25 years, but I do have the clean title in hand! That is a very important piece of this bike I imagine. Wouldn't be a very fun bike to ride around the yard.
And thank you guys for the help. I must post pictures of the TC125 sometime I love the little thing. Zips me around from A to B with about 60-65 MPGs and is perfect for beautiful Michigan days. Got it for $800 and all it needed was a good cleaning, every light bulb in the thing, and pretty much every seal that goes around a shaft on the left side of the crankcase. Holds oil now, spark plug is always a toasty brown color, and it is just great. I really want to take it apart and polish all the parts of the engine, for they are a little old looking, but I just never got the confidence
And wow! Crazy how different the markets are.. I wish they were that sought after over here. Maybe I should get it shipped but as tz375 said I find them okay barn finds on craigslist every now and then for under $500... I simply wouldn't have all that money to put into it for a long long time from now, and it is taking up quite some space in my dad's shed. Would love to see that beautiful bike restored. But maybe $300 asking price?

Couldn't resist posting some pics. Here's the 125
http://s1156.photobucket.com/user/johng ... 74%20TC125" onclick="window.open(this.href);return false;