1. It fits a need in my riding Ie: track bike for track, two up bike for two up, hot rod for play time and project to keep me building
2. It makes me smile when I ride it
3. it makes me smile when i look at it
4. it is enjoyable to work on, nothing is made to be painful to service or mod
5. It does not need to be worked on more than it is ridden after being restored, serviced, maintained or brought back to proper condition.
6. someone gave it to me/ deal you can not pass up
7. future value which only my kids will benefit from because I will probably never sell.
I’d say your list resembles mine in most respects. Future value represents a big fat nothing Burger to me. It isn’t even on my list of considerations.
I buy a bike to ride it, full stop. As I’ve gotten older I’ve come to the point where I want a bike that thrills me. If I don’t look at it and break out in a cold sweat at the concept of what it will be like to ride....welll....I’m not even gonna waste my time on it. If it is, no amount of money I end up spending on it is a waste to me.
I also agree with the concept that if the thing is already thrashed, it is then fair game for a resto-mod. Doesn’t mean I’m going to cut the thing up though.
My project Supersport is a resto-mod in progress. I can’t tell you how many miles are actually on it because the speedo cable was broken when I got it. There are 30K + showing on the odometer and the it leaked oil from every place you can think of.
It also has a salvaged title. The swing arm was cracked. Various parts on the frame were either poorly welded in attempts at repair while other brackets were cracked.
The only reason I took it on as a project is, I always wanted one and the frame itself was not cracked. All else I can make good again in time. After I stared at the CL ad, I formed a plan in my head and that pretty much solidified it for me.
I went back to the seller and bought the bike at his asking price of $1800. Honestly, it was probable $1K too much, but I didn’t know that until I tore the whole thing down. I came to that conclusion when I realized how un-maintained the thing was before I got it.
Thus, it matters little what I do to it, it will still be better than what I started with. My resto-mod plan involves nearly all period correct OEM parts so as far as the “mod” part goes it's pretty light on them.
That said, I could have just gone and bought a fully original Superlight. I was offered one from the same seller. I’ve seen it, it is low mile and 100% original.
I could not in good conscience ride the snot out of such a bike. To risk crashing such a pristine example....I just couldn’t bring myself to push it to the point of finding its limits. A restored beater on the other hand.....I have no problems riding the snot out of that.
If I crash it, yeah, I’d still be upset after the amount of work I put in.....but it wouldn’t have been a pristine original example of an iconic bike. Had I bought that Superlight, it would probably end up sitting in my living room as art.....and that just goes against the reason I buy a bike in the first place.....sean