'47 Indian - Steal of a Deal
Several years back, I picked up a fully restored `1947 Indian Chief. I wanted an 'original' to go with my modern Indian Bikes. Since then I've had folks asking me if I was interested in this one or that one and the answer was always 'no.' As awesome as they are, they are TINY to me and not something I'd ever ride for a long distance. I came close to buying a replica '39 from Kiwi Indian Motorcycle but just couldn't make myself do it. I don't ride the '47 so why would I buy the '39? Now, if someone gave me an old one or I came across a killer deal; I'm in.
Several years ago I provided a loan and as collateral I received a title to a '47 Indian bobber. I was told the value was $37k since it was completely restored. I was also told that was what was paid for it; which seemed a lil high to me. I've since asked about that and was told by one person it was $37k another told me mid 20s. Either way I had an idea on the value of it. Surprisingly, I didn't scan a copy of that title when it was in my possession. I've since learned it was never titled in MN; still in limbo between buyers with the names on the title.
Several weeks ago due to a bankruptcy situation that bike was being auctioned off with approximately 400 miles on the odometer (restoration, not new). As a joke, I put in a ridiculously low bid. Week later, i bumped it up at another low level but still really low. After it continued up I was out. Twelve days ago the bid closed at something like 13k or 14k to the highest bidder. I remember at that point thinking "that might have been worth it". Still I had no desire or need for the bike due to some of it's history. Then something interesting happened. The auction house reached out to myself and a few others that had bid on it. Turns out, the high bidder was not going to purchase it. My belief ( and a few others ) is that the bike was either bid on by the previous owner of it or an accomplice to bid up the price higher. How fucked up is that? Or in this case, some funny shit. Now the beautiful part.
Myself and others were now given the chance to bid on it again. I had a predetermined dollar stop point since I didn't want to spend much. As it progressed I showed my wife my phone with the bidding going on, explained to her the how and why and to my surprise, she smirked, we agreed on a final number and I got serious and went after it. Deep down, I didn't want the bike due to it's history the last couple of years. But suddenly, the other bidder dropped out and I found myself with a killer deal on a low mileage '47. By spending money, I made money! I just got another '47 for a fraction of it's actual value. Hell, I didn't even want the bike to begin with! However, I'm sure my daughter will appreciate it. Hell, it's her size!
Crazy world huh?
Several years ago I provided a loan and as collateral I received a title to a '47 Indian bobber. I was told the value was $37k since it was completely restored. I was also told that was what was paid for it; which seemed a lil high to me. I've since asked about that and was told by one person it was $37k another told me mid 20s. Either way I had an idea on the value of it. Surprisingly, I didn't scan a copy of that title when it was in my possession. I've since learned it was never titled in MN; still in limbo between buyers with the names on the title.
Several weeks ago due to a bankruptcy situation that bike was being auctioned off with approximately 400 miles on the odometer (restoration, not new). As a joke, I put in a ridiculously low bid. Week later, i bumped it up at another low level but still really low. After it continued up I was out. Twelve days ago the bid closed at something like 13k or 14k to the highest bidder. I remember at that point thinking "that might have been worth it". Still I had no desire or need for the bike due to some of it's history. Then something interesting happened. The auction house reached out to myself and a few others that had bid on it. Turns out, the high bidder was not going to purchase it. My belief ( and a few others ) is that the bike was either bid on by the previous owner of it or an accomplice to bid up the price higher. How fucked up is that? Or in this case, some funny shit. Now the beautiful part.Myself and others were now given the chance to bid on it again. I had a predetermined dollar stop point since I didn't want to spend much. As it progressed I showed my wife my phone with the bidding going on, explained to her the how and why and to my surprise, she smirked, we agreed on a final number and I got serious and went after it. Deep down, I didn't want the bike due to it's history the last couple of years. But suddenly, the other bidder dropped out and I found myself with a killer deal on a low mileage '47. By spending money, I made money! I just got another '47 for a fraction of it's actual value. Hell, I didn't even want the bike to begin with! However, I'm sure my daughter will appreciate it. Hell, it's her size!
Crazy world huh?
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