Frankly it's impossible to tell what it would cost. You might buy it and find there was more wrong with it than you thought. You can at least check out the cost of the replacement plastic (if you plan on replacing it). Plastic is a lot more than people realize! I think the mfgrs sell the bikes at a loss and make it up in the cost of replacement parts, especially 'tupperware'.
Buying a wrecked bike at an auction is a gamble. The people who do it are shops that can fix a bike like this fairly cheap, but even they find that some aren't worth fixing so they cannibalize them or part them out.
I bought an old bike, a 'barn find'. It was leaning up against the wall of a machine shop of one of my customers, an old BMW 'airhead'. I traded him $1000 worth of work for it, which is like $600 really because it's before taxes. I thought it was a spectacular deal, but it turned out it needed $2200 worth of work! 8^O It's still a good deal, because it's worth a bit more than that, but not the GREAT deal I thought it was. And I could easily have gotten my $600 back by parting it out, but it would have been a hassle.
The R1 is sure a nice bike though. 8^) More of an axe than a sword, if you know what I mean.