Lemans III - What's she worth?

[lc4dakar]

I was offered a Lemans III today by a guy whose wife is making him get rid of some of his bikes (he has about 30).  It's stored in a garage with other bikes right now.
Not running, supposedly just needs a battery.
Title clean.
No history.
Fairing needs proper mounting and a paint job.
Tarozzi high rise clip-ons.
Rest of bike is pretty clean.
29,000 miles on odometer.

He has $4,400 in it, and would like to get it back out of it.
I think that's high since it doesn't run.

Thoughts?

[SED]

It may well start with some fresh gas and a jump from a good battery.  If the paint and bodywork are good and it fires it's probably worth most of what he wants.  They're good tough bikes.  Asking prices on ebay and craigs list are running $5,500 to $8,500.

I'd pull the plugs, check the oil, give it fresh gas, then crank it 'til there's oil pressure and give it a go. 

Looks like the seat is modified.  That and riser clip-ons suggest a shorter rider.  (stock LMIIIs have a long reach).  Rear signals are aftermarket.  Front fairing looks loose and maybe LMIV paint?  Are fork lowers chrome or bare aluminum?  - perhaps the forks have been rebuilt or replaced?  Paint and bodywork and pipes look original from the photos.  Engine looks clean and no oil drips....

Hope this helps.

[SteveAZ]

Missing the small bodywork over the engine, fairing is loose or mounts might  be bent from falling over in the garage. Seat, clip ons etc not stock as noted.

Low miles. If it's sat a long time brakes might be junk and carbs full of syrup... plan on lots of seal and gasket leaks/replacement.

If you have a great place to work on it, time and tools, maybe it's a great bike for 4k. If not, it might be a nightmare.

Just an opinion.

[earemike]

It's not often you get back what you put into a bike, if you like it make an offer.

If he's truthful (ie you trust him) I like the ballpark price & think you could get a good value bike out of it.

Of course that risk is there and you could easily sink a few grand in it for engine repairs etc

[Offcamber1]

based on the pics I'd offer him $3K and leave your phone number with him if he declines.  If it just needs a battery why doesn't he spend $24 on a lawn mower battery?

[Dimples]

Considering the circumstances that would be a 4.4k motorcycle any day of the week to me.

[lc4dakar]

If it just needs a battery why doesn't he spend $24 on a lawn mower battery?

The owner has a broken leg and a mangled hand that leaves him physically unable to move the 4 bikes between the door and the Guzzi.

[SED]

FWIW my LMIII had about 22,000 when I bought it and it needed several things.

Worst for riding around town was a grabby clutch.  The problem is small clutch splines that wear quickly.  Cured by replacement clutch, but rode it for 5 years first.

Seized cush-drive in the rear wheel.  This compounded the difficulties with the grabby clutch.  Softened the cush by drilling holes in the rubber cushions.  This is a good time to lube the drive shaft spines too.

Bad timing chain tensioner - replaced with Valtech blade type and forget about it.

Sagging fork springs replaced with slightly stiffer versions recommended in Guzziology.

Dampers aren't doing their job after 30 years so it's getting FACs.

Looks like the photos show steel brake lines which suggests some brake work has been done.

[Shorty]

That's just about how much I got out of my 1983 leman III about 20 years ago. 

[Tom]

Where in the country?  Stored inside but heated garage?  If not expect some work to get it on the road.  Anything liquid would have to be changed out.  Tires?  Factor in what a shop would charge for the same work.  Sounds like at least $1K off of his asking price.  How long has it been sitting?

[LeRoy]

Is it possible that the bike had front end damage at some point in the past? That would explain the lower fork legs being polished (not painted red like the bike), the unfitted front fairing, the missing lower front side fairings and even the replacement bars. Of course, all of this could be simply the result of a previous owner's changing things for reasons of personal taste, but I'd be looking closely at the front end of the frame, the forks, triple trees, etc.

Other than some concern for hidden front end damage, $4,400 is right at the upper end of what I'd be willing to pay for a non-running pig-in-a-poke. Not that a LM III is a pig, but you get the idea. A well-sorted LM III is a fabulous Guzzi but a bike with unpleasant surprises can get expensive fast. As it sits, you can see all the "good news." Anything you discover after owning it is likely to be in the "bad news" department. The risk is all on your side of the ledger if you pay the asking price.

[Tom]

 :1:

[lc4dakar]

Well,  I bought it for substantially less than the asking price.

The good:  Biturbo front forks, Dynatek ignition, all instrument lights work, good tires, paint is even better than it looked in the garage, fairing only needed one small bolt to finish mounting it.

The bad:  Left side petcock and carb both leak (was expecting to need new gaskets anyway), no headlight or tail light, starter button does nothing.  Shorting across the starter terminals gets a spin, but no engagement.

[oldbike54]

 Cool  Wives can often create a motivated seller 

  Dusty

[mtiberio]

I noticed it had non-stock fork dampers. the lemans III came with paoli air forks. the III also came with paoli air shocks. I see those have been replaced with what looks like progressives... frankly the stock saddle was junk (even to my 29 year old body when I bought mine). that saddle could only be better...
 still wonder why polishhed and not red painted fork sliders...

[Steph]

Nice one!

re The loose front fairing -just park it and put-on a huge round headlight!

Like this guy did:
http://youtu.be/mee9drMTjv4

[lc4dakar]

That's why it was loose.  A former owner converted it to a round headlight, then sort of switched it back when he sold it.

[JJ]

Bottom-line:  Worth $4K - $4.4K all day long as is.

Running / sorted: Worth $5.5K-$8.5K all day long.

Agree with everyone else here (SED, etc.) that mentioned the same as above.

[Offcamber1]

no headlight or tail light, starter button does nothing.  Shorting across the starter terminals gets a spin, but no engagement.

Check the ignition switch.  Same exact symptoms my Lario had when I got it.  New iggy switch solved all the electrical gremlims.

The switch can be repaired one time if you take it apart carefully.

[earemike]

Nice pickup, good luck.

I'm looking forward to hearing what it takes to get ship shape 

[SED]

Sounds like you got a good deal! 

Two unusual sources of ignition problems - one of the bullet connectors slips out of the back of the switch, or wire breaks at the kill switch (power through the switch, not a ground).  The original connectors are very thin and fragile.

Let us know how it goes!

[Kiwi_Roy]

Shorting the large starter terminals will not engage the starter because it doesn't energize the solenoid, put a wire on the small solenoid spade connector and touch the other end to the battery and it should crank.
 
I think you got a great buy, I would have paid the asking price.

http://www.thisoldtractor.com/guzzi007/schematics/1981_LeMans_III.gif
With the key On, you should have 12 Volts on every fuse
The ignition switch is a typical weak point, may just need cleaning
I'll send you a PM

To be safe I would add a 40 Amp in-line fuse in the red wire right at the battery, it should never blow but makes a convenient point to power down the wiring.

[Tobit]

Cool  Wives can often create a motivated seller 

  Dusty

Man that's true!  When I bought my '86 LeMans IV in '87, it only had about 3,000 miles on it.  The guy was pretty motivated to sell as it was "too big for him."  When I wen to see it, he AND his wife met me in the garage and while he and I talked she stood there, arms folded, not saying a word and looking most unfriendly.  I had the asking price in cash but several hundred, maybe almost a grand, less in an envelope which I pulled out as my opening offer.  She grabbed the envelope and disappeared to get the title and keys.

   

Always loved the LeMans III, glad it's worked out for you and Great that you got it for a good price.

Tobit

[LeRoy]

To the original poster:

If you'd like a CD with pdf copies all the factory literature (Workshop, Parts and Owners Manuals), wiring diagrams, a range of period ads, road tests and brochures, how-to procedures and best practices, just send me a PM. Include your full name and mailing address and I'll send you the CD. No charge.

This same offer is open to any WildGuzzi forum member, worldwide. I also have similar model-specific CDs for the V7 Sport and 750 S, 850-T, 850 T-3, V1000 Convert, V1000 G5, 1000 SP, California II, California III, Le Mans 850, Le Mans II/CX 100, Le Mans III, Le Mans IV/V and several other Tonti-framed models. All available for the asking at no charge. Just send your request in a PM with your mailing address.

[canuck750]

That is a really nice looking le Mans, you did well!

[lc4dakar]

Finally got around to pulling the bad petcock and the carbs.  Petcock came out covered with rust.  Flashlight in the tank showed the bottom inch or so covered in rust.  The tank is sitting now with a gallon of Evapo-Rust in it.  I'll pick up some Red-Kote tomorrow and finish it up.

Then rebuild the carbs.

[sdcr]

Ic4dakar,

   Nice looking Le Mans III! Mine had the same starting issue when I got it 5 years ago. I replaced the stater relay, as well as cleaned the terminals on the back of the ignition switch. It cured the starter issue.

     Overall a terrific Guzzi. I would hazard to guess that yours is worth $6700 to $7500. On the east coast, after the tank and peacock is sorted.

     Good luck with it.

John

83 Le Mans III