New machines at the dealer's place are a bit ridiculous.
But, there's some quality used ones out there at decent pricing since this economy has forced many to get rid of some of their toys.
I would NOT get a chinese knock-off. As groomerdude said, "you get what you pay for".
Depending on what you do get, they hold their value pretty well. E.g. many of the ATV's I've purchased in the last several years have been for the kids. Start with 50cc, then 80cc, 160cc... All the ATV's were Suzuki's and I only bought one new. Except the new one, all were sold a couple years after purchase for pretty much what I paid for them. Oh, and at the same time, a couple people I know bought their kids the chinese knock-offs. They had quality issues the entire time and ended up selling for about 1/3 of what they paid.
On the larger ATV's and those of quality (Suzuki, Honda, Kaw...), I came up with a little algorithm that seems to work pretty well for determining the value of a used ATV. From what it would cost new for that particular ATV, deduct $1 per mile and $100 per year. Accessories are at best worth 50% of their cost. Adjust if needed for vehicle condition. If you search this forum for depreciation, I believe we had a thread on this years ago.
BTW, going to go pick-up a used Honda Rancher over Easter weekend for myself. Daughter then gets my 250.