That's about average, currently they're worth between 1000 and 1500, depending on condition. If your friend has been beating the heck out of the bike and running it high rev's and high miles, it may not be worth 1200, however if its in good clean shape and runs well that's a good deal. Also, if there are any upgrades to it that might sweeten the deal too. It's a fair base price and you'll have to judge based on condition.
You can also probably talk him down. Offer 1000 and see what he thinks. Also, you could look at it and point out problems, scratch here, rust there and use those as talking points to help barter down his offer.
You can also probably talk him down. Offer 1000 and see what he thinks. Also, you could look at it and point out problems, scratch here, rust there and use those as talking points to help barter down his offer.