I did once for a dirtbike, Drove 9 hours to find the bike didn't even run. It was all spray painted, including the engine which was spray painted a nice silver and black. I paid for it, took it home and cleaned all the acorns out of the air box and replaced the pantyhose airfilter it ran for quite a few months before I sold it. I would do it again, but I would be more carefull.
All you really have to watch out for is the sellers that have either very low or no feedback ratings, and unreasonably low prices like $3599 for a 04 R1or something rediculous like that. but otherwise buying off e-bay isn't to bad.
I've bought 2 bikes off of ebay and they were great purchases for me. I sold my first bike on ebay and it went well. Bought a car on ebay. That went shitty shitty shitty man. Lately I've been getting a lot flakyass sellers on ebay. But usually its pretty good. Yeh, gotta check feedback first...a couple of times i've had issues with sellers after the fact just to find out their feedback mentioned exactly the issue i was having.
I bought my gixxer i have now off of ebay, but the guy delivered it to me from Dayton ohio, a 3 hour drive. i gave him a $100 paypal deposit then paid the rest after i rode the bike. if you give a deposit, do it on paypal, because you can dispute it with paypal when the bike is f*cked up.they will investigate and most likely return your money to you. ebay makes me feel good inside because it reminds me that 99.9% of people are truly good.
I would only do it if i can pick the bike up. I picked up a 1983 gs550 from ebay then i sold it on ebay a few months later. I figure if it's a local pick up only then the bike must really be there and i might just negotiate the deposit amount and tell them i will have it all for them when i come to see and ride the bike