Looking at Le Mans Mk1 Project

[Cam3512]

A correct Mk I Series I LeMans (assuming that's really what this is), is NOT a $16,000 - $20,000 bike.  Maybe in another ten years, but not today.  It's a $10,000 bike; maybe $12,000 if all-original -- which this one will never again be.

I disagree. Unless you've lived under a rock for the last few years,  restored or nice original V7 Sports and 850 LeMans' are easily approaching $15K.  In 5 years $20K+.  Feel free to dig up this post and quote me on this.  I'll still have one of each.

[canuck750]

A correct Mk I Series I LeMans (assuming that's really what this is), is NOT a $16,000 - $20,000 bike.  Maybe in another ten years, but not today.  It's a $10,000 bike; maybe $12,000 if all-original -- which this one will never again be.

If you know where I can find a great MKI Le Mans for $10 ~ $12 K please let me know, have cash in hand. :)

2014 Bonhams Las Vegas Auction - 1976 Ice Blue Le Mans MK I, lot 383 sold for $21,850.00, it had very, very low miles and had been sitting for a long time, it would require a full mechanical strip down and going over before running.

The V7 Sport and MKI LeMans, properly restored, all correct, are fetching well past $15K now, I have watched several of each sell in the past three years for that money and more.  A LeMans MKI decent rider, good condition may go for as low as $10K.  For $10K or under you are going to need to look for a CX100, Lemans MKIII etc.

[youcanrunnaked]

If you know where I can find a great MKI Le Mans for $10 ~ $12 K please let me know, have cash in hand. :)

2014 Bonhams Las Vegas Auction - 1976 Ice Blue Le Mans MK I, lot 383 sold for $21,850.00, it had very, very low miles and had been sitting for a long time, it would require a full mechanical strip down and going over before running.

The V7 Sport and MKI LeMans, properly restored, all correct, are fetching well past $15K now, I have watched several of each sell in the past three years for that money and more.  A LeMans MKI decent rider, good condition may go for as low as $10K.  For $10K or under you are going to need to look for a CX100, Lemans MKIII etc.

There was a very nice MkI in Miami for $10K this past year.  Clean runners go for $10K; a perfect restoration slightly more -- maybe $12K.  A perfect original bike maybe  a bit more -- $15K.  However, no matter how much money you throw at the bike in this thread, it will never be original again.  $6K for THAT mess?  I think you're off by 100% (as do several others here).  Bonhams?  Bonhams is for chumps.

[youcanrunnaked]

I disagree. Unless you've lived under a rock for the last few years,  restored or nice original V7 Sports and 850 LeMans' are easily approaching $15K.  In 10 years $20K+.  Feel free to dig up this post and quote me on this.  I'll still have one of each.

How, exactly, do we "disagree?"  
I wrote that a MkI was not a $16 - $20K bike TODAY, but would probably be worth that much in 10 years.  
You say that today they are "approaching $15K," which is another way of saying "a lot less than $16K," (and not at all in conflict with my estimate of $12K).  
You also say that "in ten years" they will be worth $20K -- WHICH IS WHAT I WROTE.

And why are the V7 Sport values being conflated with LM I values?  They are different bikes and the V7 typically commands the higher price.

[canuck750]

a perfect restoration slightly more -- maybe $12K.

My mistake, you are probably correct, a perfect restoration of a LeMans MKI is not worth more than $12K

If anyone knows where I can buy a perfectly restored Mk I Lemans send me a pm, :BEER:

[youcanrunnaked]

No, no...  you're probably right -- they are approaching $15K... by way of $12K....

 :pop

[Cam3512]

I'm saying a nice 850 LeMans will be a $20K bike in FIVE years.  Other versions of LeMans' will eventually follow suit.  GET 'em while you can.  Guzzi cheapskates hate this fact.  There's always the T-3...

[youcanrunnaked]

Unless you've lived under a rock for the last few years,  restored or nice original [   ] 850 LeMans'.... In 10 years $20K+.  Feel free to dig up this post and quote me on this.

$20K IN TEN YEARS for a restored or nice original 850 LeMans.  I'm quoting you on this.

I'm saying a nice 850 LeMans will be a $20K bike in FIVE years.

TEN YEARS became FIVE YEARS in less than 30 minutes?  Now you're just messing with me.  Maybe I am living under a rock, but it seems like you've been hit in the head by one.

[Cam3512]

$20K IN TEN YEARS.  I'm quoting you on this.


Now you're just messing with me.

You're right, I meant FIVE (edited and corrected).  Much like the Guzzi factory, too much wine while I was typing.

 ;D

[youcanrunnaked]

Assuming we don't have another recession in the near term, you might be right about it being 5 instead of 10 years.  I guess we shall see. 

Cheers.  :BEER:

[Cam3512]

Assuming we don't have another recession in the near term, you might be right about it being 5 instead of 10 years.  I guess we shall see. 

Cheers.  :BEER:

Cheers brother.

[crc]

my way of thinking is that if you want a collectable bike you pay the most you feel happy paying for it, theyre not making anymore, only clones. I think to say that the bike in this post will never be a minter is wrong. it can be whatever the owner/builder wants it to be, maybe at a big cost, maybe not. there are a lot of very good bike builders around. there a lot of people these days with great talent, not all of them have websites, flash premises etc, and I personaly know some that even work out of old run down houses. the building, restoration etc that goes on here in nz alone amazes a lot of people, cottage industry is what a lot of people refer to it as.

[swooshdave]

See what you started Dave  ~; :D

  Dusty

You should have seen the last time when I said I wanted a V50. The big block boys came out of the woodwork.   :-\

[crc]

a very nice lm850 series 2 sold here today for $13500. sold in six hours

[swooshdave]

a very nice lm850 series 2 sold here today for $13500. sold in six hours

Pic?

[crc]

sorry not sure how to post link to pics

the sale feel through and it was relisted again this morning, sold again in no time

[Perazzimx14]

a very nice lm850 series 2 sold here today for $13500. sold in six hours

A $13,500 Australian continent motorcycle probably translates into a 9 to 10k bike in the USA.

[youcanrunnaked]

^^^ At the current exchange rate, it equals $10,467.76 US Dollars.

[Cam3512]

^^^ At the current exchange rate, it equals $10,467.76 US Dollars.

Then it must have been a beater...

 ;D

[swooshdave]

I am going dredge up this old post because it still has a heartbeat.

I finally sold the 914 and reached out to the owner of the Le Mans. He said that we need to talk when he gets back from a trip. 

So there's still a chance. I'm obviously worried about overpaying but chances of the heart outweighing the brain are pretty high here. Of course I won't getting any rational support here, not that I expect any. 

[canuck750]

Wrong place to hope for rational advice, so here goes with good advice, BUY IT NOW.

They aint making more of them and the prices for good ones keep going up every year.

In my opinion the Le Mans MkI will surpass the desirability of the original V7 Sport if it has not already and it's a better performer.

[swooshdave]

That is just the kind of discouragement I was hoping for. 

The wait is going to kill me. Luckily I have a Ducati to finish up in the meantime. Does anyone have someone they hate who might want an old Bevel? 

[Matteo]

Dave, Can you get a shot of the right side of the head tube. The sn should be stamped in.
The correct starting # for a LM is VE11111 to VE13040, LM 2 Starts at VE13041. They had badges on the tank. The LM3 is the first with decals on tank.

[Cam3512]

That's the second one I've seen with a toggle switch installed in the dash.  People should leave well enough alone! 

[swooshdave]

Dave, Can you get a shot of the right side of the head tube. The sn should be stamped in.
The correct starting # for a LM is VE11111 to VE13040, LM 2 Starts at VE13041. They had badges on the tank. The LM3 is the first with decals on tank.

The plate number starts with a 7 which is ok for a North America bike.

[swooshdave]

That's the second one I've seen with a toggle switch installed in the dash.  People should leave well enough alone!

What is the switch for?

[Cam3512]

What is the switch for?

Don't know, you'll have to ask the owner.  It's not stock.

[swooshdave]

Is there a stock switch that commoningly fails that would warrant a toggle switch? Perhaps something that wasn't readily available?

[swooshdave]

There was a very nice MkI in Miami for $10K this past year.  Clean runners go for $10K; a perfect restoration slightly more -- maybe $12K.  A perfect original bike maybe  a bit more -- $15K.  However, no matter how much money you throw at the bike in this thread, it will never be original again.  $6K for THAT mess?  I think you're off by 100% (as do several others here).  Bonhams?  Bonhams is for chumps.

The ice blue one on eBay just passed US$10k with plenty of time left. And it's only a Series 2. 

The reasons auctions are important for pricing is that the selling price is public. Otherwise you are looking at asking price which is rarely the final price. Also keep in mind the premium that adds even more to the price.

[canuck750]

The ice blue one on eBay just passed US$10k with plenty of time left. And it's only a Series 2. 

The reasons auctions are important for pricing is that the selling price is public. Otherwise you are looking at asking price which is rarely the final price. Also keep in mind the premium that adds even more to the price.

A couple years ago I took some negative email for stating that I bought a partial 1973 V7 Sport for restoration (missing a rear wheel, tool boxes, seat, fenders, foot rests etc...) for what I felt was a fair price at $4K and still think that for the time it was a good price to pay for a  matching numbers V7 Sport project. Today I would be very lucky to find the same project for $6K and would have seen basket cases for $7K.

If you can find a 1st generation Le Mans that is mostly complete for $6K I would grab it!

5 Years ago I wanted to buy a 1973 Ducati 750 GT in decent original condition but balked at $11K. The last time I found a similar bike the seller wanted $16K and he got his asking price.

A properly restored 1st gen Le Mans with documentation of the work and parts will fetch $15K today and more in the future. As round case Ducati's continue to climb in value the desirable Guzzi's from the 1970's (V7 Sport, 750S, 750 S3, Le Mans Mk I) are going to keep rising in price. The same goes for Laverda and Benelli machines from the 70's.