78 Lemans 850 - Opinions sought on value

[CT Dharma]

A close friend who is terminally ill is selling his large motorcycle collection [85+] and I have inquired about purchasing his 78 Lemans. It's been sitting in his garage for 20+ years. Appears to be complete and said to have run when parked which I have no reason to doubt. Looks like 30k on the odometer and obviously in need of restoration. Not looking to flip to make a buck but rather to restore/enjoy. Also, not looking to 'steal' the bike but rather to pay reasonable value.

What say you? 

[Mayor_of_BBQ]

 

[JJ]

Yes...need photos...very hard to evaluate without detailed photos...

QUOTE:  78 Lemans. It's been sitting in his garage for 20+ years. Appears to be complete and said to have run when parked which I have no reason to doubt. Looks like 30k on the odometer and obviously in need of restoration.

Very rough guess - $8K-$12K in the current state, and as described...(IMHO)

[blackcat]

“Very rough guess - $8K-$12K in the current state, and as described...(IMHO)“

Sounds about right. Sitting for 20 years…..that is a big concern.

[JJ]

“Very rough guess - $8K-$12K in the current state, and as described...(IMHO)“

Sounds about right. Sitting for 20 years…..that is a big concern.

Yes..."Sitting for 20 years / ran when parked" is a HUGE concern, IMHO...

[jcctx]

Basket case you have to take apart yourself?? $1K to 1.5??????

[CT Dharma]

Unfortunately, unable to get pics but have seen the bike in person just this week. Expected 'patina' after sitting for that time but otherwise intact. Gas was drained when parked.

Appreciate the comments posted.
Thanks.

[JJ]

Unfortunately, unable to get pics but have seen the bike in person just this week. Expected 'patina' after sitting for that time but otherwise intact. Gas was drained when parked.

Appreciate the comments posted.
Thanks.

Then, of course, and for perspective, you can fire up the ol' CRACK PIPE...take a big hit...and then, write the big, fat check for this one on "fleaBay"...that has been posted many, many times before!!

[blackcat]

Well, I paid $3,500 for the LeMans in this condition:


But it all worked out in the end:



Unless the one you are looking at is in really rough shape and it sounds like it isn't, then I'd go for it. 

[jwinwi]

Guessing that your friend has not or cannot name his price? Very difficult situation. As others have rightly mentioned, it's all down to current condition. Unfortunately 20 years in a garage could mean it's in really poor shape - or not. 

[JJ]

A stunning example!   Simply beautiful!!




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[blackcat]

Mine was taken apart and left in a garage in Miami for 10+ years and I assume this bike is in Colorado and under much drier conditions, so that is a plus.  I'd clean the gas tank, drop the pan and take a look up, new filter, oil, open up the carbs and do a clean up or a rebuild kit and give it a go.

[AH Fan]

Guessing that your friend has not or cannot name his price? Very difficult situation. As others have rightly mentioned, it's all down to current condition. Unfortunately 20 years in a garage could mean it's in really poor shape - or not. 

Yes that's a stunner.
There is definitely something about those in blue.   

Ciao

[80CX100]

Sitting for 20 years…..that is a big concern.

       No matter how water and airtight the storage facility is, WHERE it was sitting for 20 yrs can make a big difference.

       20 yrs in Arizona is completely different from even 5 yrs along a coastal area or a place with high humidity or salty air.

       I recently considered purchasing a beautiful looking, extremely rare Black/Gold Convert that had been stored for just a few years in Britain, and imported to NA and made roadworthy by a very well respected tech. (Every British bike I've ever looked at for sale, has had huge corrosion issues, fwiw)

       Due diligence, discovered that the hidden corrosion damage was near catastrophic, ie major damage to the fine pivot pin threads, ergo, close to being a useless frame and becoming a beautiful paper weight.

       If the owner of the Lemans, is that big a collector, he should have a good idea of it's value or what he expects for the bike.

       Good luck with it, hope it works out well.

         

       

[blackcat]

A stunning example!   Simply beautiful!!




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Thanks. Lots of work but it was fun; I'm still waiting on some NOS parts from Europe but that isn't a big deal, just the correct rear turn signals.

Yes forgot to ask that question, hopefully you are capable of rebuilding some things?  Paint, forget it. I sent everything out to be painted, but that might not be the case with this bike? 

As my friend Hugh who owns Sixth St. Specials, a old school British motorcycle shop in NYC told me many years ago; spoken with a Scottish accent:
"If you are going to own an old motorcycle, you better learn how to fix it"   

[Groover]

Very sorry to hear about your friend. Are the motorcycles going to an estate auction/sale? Are there other bikes that we here may be interested in that may help?

[CT Dharma]

Black Cat - That's a very good reference for me on price.

Yes, the owner has given me a price though at this point I'd rather not say. It seems reasonable to me and I certainly don't want to dicker on price. I'll either buy it and take on the project as I believe I'm capable of performing most of the work [certainly not the paint] or pass. The bike is NOT in CO so have to figure in transportation cost as well. It certainly would have sentimental value to me.  If I decide to buy it I'll post pics once in my possession.

I do appreciate the collective wisdom of the forum members.

[CT Dharma]

Very sorry to hear about your friend. Are the motorcycles going to an estate auction/sale? Are there other bikes that we here may be interested in that may help?

This is the only Guzzi but he does have two Morinis [Morini?]; a 3 1/2 and a 5 I believe but not an expert on Moto Morini. I can get more info if anyone has a real interest.

[JoeW]

I bought this LeMans last summer with 9400 miles on it. It had been sitting over 20 years and had no title. As you can see, non stock exhaust and shocks, the paint is nearly perfect. I invested 2000.00 on title, tires, brakes, battery, complete service, I rebuilt the carbs, replaced the petcocks. I did have to replace the alternator rotor. I sold the bike for 17,500.00. Without knowing more about the bike you're looking at, I would value it somewhere between 7500.00 and 12,500.00.

[fotoguzzi]

This is the only Guzzi but he does have two Morinis [Morini?]; a 3 1/2 and a 5 I believe but not an expert on Moto Morini. I can get more info if anyone has a real interest.

gee could you list them? Any Ducati's? Or A Buell?

[CT Dharma]

I bought this LeMans last summer with 9400 miles on it. It had been sitting over 20 years and had no title. As you can see, non stock exhaust and shocks, the paint is nearly perfect. I invested 2000.00 on title, tires, brakes, battery, complete service, I rebuilt the carbs, replaced the petcocks. I did have to replace the alternator rotor. I sold the bike for 17,500.00. Without knowing more about the bike you're looking at, I would value it somewhere between 7500.00 and 12,500.00.

Thanks; that's a good reference point.

[CT Dharma]

gee could you list them? Any Ducati's? Or A Buell?

I'll get the info on the Morini. No Buells and I believe the Duc is spoken for.

[Canuck750]

I would agree with the general consensus of $7 - $12K. That’s a huge spread and obviously is determined by the completeness of the bike. Things I would consider is the general condition of the motor (any broken fins on heads or cylinders), are the original switch gear intact and functional, instruments and bezel in good shape, is the fairing solid (no cracks or splits), signal lights correct and in good shape, original dual bleeder brembo calipers in decent shape, rotors are within wear limits, condition of gas tank and side covers. What shape is the wiring harness, brake hoses, etc in. It’s a 44 year old machine and it’s possible that a LOT of it is worn out.

Personally I would take a $7K bike and put $7 - $8K into it and know what I had than pay $13K for a 44 year old bike that if not kept in top shape is going to cost a lot of money to resurrect and make it safe.

[Scout63]

Well, I paid $3,500 for the LeMans in this condition:


That’s the one I would want. I’m going to take it apart anyway and the parts are easier to examine. The blue is my favorite color. 

[amamet]

Kind of off topic, but how is the 1000S bringing more money than the 76-78 lemans?  As in that last bring-a-trailer auction. And v7 sport, 750s and s3 too?  All similar styling but id think rarity goes to the early round barrels. The round barrel engines are so much nicer than the square barrels, kinda like ducati round cases vs square cases but only for style, price obviously goes to the round case
-Allen

[blackcat]

Kind of off topic, but how is the 1000S bringing more money than the 76-78 lemans?  As in that last bring-a-trailer auction. And v7 sport, 750s and s3 too?  All similar styling but id think rarity goes to the early round barrels. The round barrel engines are so much nicer than the square barrels, kinda like ducati round cases vs square cases but only for style, price obviously goes to the round case
-Allen

While the last 1000S sold for $21,500, the one before that sold on 3/20 for $16,500 which seems to be the correct price. If the sale of another 1000S achieves the same price as the last one, I’d say it is the new norm for that bike, but I think it is unlikely. Time will tell, but there are a lot less 1000S bikes made than 76-78 LeMans.