Hi Rex, someone in the know, such as yourself, would say that its only just run in at 265K but the majority would say way way way too many k`s.
That 1300 I bought in Sydney, ( Norm`s ) had 210K with Full history and was sweet as a nut. $500 That was his trade in value on a new bike.
To me $500 would be fair and real, but it would need to be registered still, so a few dollars are for minor repairs. RWC etc.
Any one looking for a good cheap bike, could do a lot worse, especially if its been looked after as well as you say.
Having said that, I don`t want another bike