Ripped off on a trade

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pileaunickle

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I traded my good running quad worth $3200 for this 2002 Honda Cbr 954. The gentlemen that I bought it off of me informed me that it needs a few little odds and ends for inspection, and it "may" need a valve adjustment.
Right away I put $200 into fixing minor things that were wrong with it to pass inspection. I took the bike out for a test ride and once it got warm it started acting up (over heating, shutting off, and making noise) I got it back home and started looking for the problem. Once I found the possible problem I ordered the part, three weeks later the part ($100)came in and I installed it. As soon as I started the bike it started making all kinds of horrible clunking noises. After Trying to diagnose the problem again I gave in and took it to a Honda dealer ($120)to have them find the problem (6/27/08). They checked the bike and pulled the motor and tore it down. They called me 7/2/08 and informed me that the bike has a blown crankshaft, that it would cost around $2000 to fix, and that it has obviously been like this for a long time and that it had been riden hard while it was like this.
I'm not sure what I can do if there is anything I can do. I was told to possibly take this to a small claims court for implied waranty. I guess I'm just trying to see if it is something that can be handled in a small claims court or if I would just be wasting my time.
 
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