Isn't what it's worth, supposed to be what an undamaged one is worth, minus what it would cost to repair it to that condition?
I'm not sure what those fairings go for, but it might put the bike underwater to replace them, so it's only worth what someone who doesn't want to fix them, or can repair them on the cheap will pay.
Was the bike written off by insurance, or did the owner never go through with a claim?
How did it get fixed, and by whom?
It might be one of those things that could be worth $500 to someone, the owner might find the right buyer, or it may never leave until it's scrap.