Marketwatch: Lambretta Li150 Series III

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I'm not in the market for another scooter, but when Lambrettas come up for sale nearby, I tend to keep an eye on them.  Recently, a project Li150 showed up on ebay just across the bridge in San Francisco.  I took a look at the listing, and talked to the seller.  It looked like a good honest "barn find" that was being sold as part on an estate sale.  That said, the scooter is very rough, and will need a complete restoration.  The motor is siezed and it is missing a sidepanel.  This thing will cost many thousands to make right.  Even if it was free, it will likely cost more to make it nice than it is worth.  So I figured that it would sell in the $500 range, and maybe $800 at the top end. 

So I was completely blown away to see that it sold for a whopping $1900!  What the ...?  Maybe there was gold in the glovebox?  I have no idea.  But from what I see here, and from what I heard from the seller, someone seriously overpaid by like three times for this thing. 

This is especially so when you look at other recent ebay sales.

Just compare with this fantastic Series I Li, which reached only $2500 and understandably didn't meet reserve.

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This perfect Li 125 Series III, no bids at $3700 (and I doubt will sell)

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This tatty Li 125 Series III in arguably better condition (though still rough) sold for $427

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It just goes to show, people sometimes get caught in bidding wars. Whoever bought this thing is very far upside down on it from the word go. The seller is stoked though!