I almost bought one of those once, in about that condition, in 1992.
A guy in CA had quite a large collection of original unrestored unusual scooters, many in running condition, that he was liquidating.
I believe his intent was to turn the whole collection into a Vincent Black Shadow -- quite a smart move, if he succeeded at it.
I could afford to buy any one, but just one.
That Velocette was a top contender for me, and I almost went for it.
I ended up with a Maicoletta 277 instead, which I still have.
PhilB