That right hand fairing is going to need replacing. That's a few hundred bucks to replace and paint unless one has the ability to paint it themselves, or can get one in that colour. There won't be any trouble finding a replacement, though.
I saw on my Facebook feed two days ago a 1993 K1100RS with 95,000km in Summerside, PEI, for $3,800.00. It comes with System 3 cases and liners, parts and service manuals. I assume that is CDN funds.