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The Guzzi small luggage rack has a very low load rating - only 7 pounds. Might work if most of the weight is on the seat and you just wanted to keep the edge of the bag off the fender. The GIVI rack is much more substantial and won't break the bank like OEM.
The Givi rack is much more capable than the MG small rack. The issue I ran into is the Givi won't work with most aftermarket shocks. I went with the MG small rack and it is pretty solid. Not sure what is limiting it to 7 lbs. but I plan to test that out this fall. I will be sharing the weight with the seat as you suggested.
it certainly looks neater naked.
Right, good catch - I forgot to mention that the GIVI didn't work with my Hagon shocks - OEM only as the rack uses the space below the eyelet.Thinking the 7 lb. rating is loading at the rear of the rack and due to the single mounting point. Will probably get one with the expectation that it won't carry a large, fully loaded tail pack. Just something to kinda extend the saddle for carrying things too bulky (not heavy) for my smallish panniers.