'Exciting' price for Fastest Indian motorbike

FASTER AND FASTER: Sir Anthony Hopkins plays Burt Munro in The World's Fastest Indian.

PIONEER: Burt Munro and his 'Munro Special' Indian Scout Invercargill, 1938.

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A motorbike ridden and worked on by the legendary Burt Munro sold this evening for $71,000 - well exceeding expectations of around $35,000.

Invercargill’s Munro, featured in the movie The World’s Fastest Indian, set world land speed records on Indians, but he spent most of his time racing at home on Velcotte drag racing bike.

Neil Campbell of Webb’s, who ran tonight's Auckland auction, said the new owner - who paid $71,000 - was a Kiwi bike collector who outbid numerous overseas buyers to win.

"The room was absolutely packed.

"It was a bit of a frenzy."

He said when the man won the auction there was huge applause from the audience. "The bike is staying in New Zealand. He's a big collector and he's committed to the New Zealand bike scene."

The 1936 Duncan Meikle Velcotte drag racing bike was worked on by Munro and his mate Duncan Meikle, who tweaked bikes for over 45 years.

Mr Campbell said it was an "exciting price" and believed it could be a record price paid for a New Zealand vintage bike.

Munro and Meikle owned and developed the most drag-competitive Velos.

"It’s a hellish bike, just oozes charisma," Mr Campbell said.

Webb’s said the bike was "the result of those years of mutual development, reflecting a crafted methodology of risk-controlled advancement in a very rudimentary way".

The bike raced at Invercargill’s Teretonga race circuit and was one of only 10 produced in the world.

"What is being offered … is a remarkable piece of history that has had numerous rebirths throughout its development. There is nothing standard about this machine: it is completely original and a testament to the true nature of collaboration."

- © Fairfax NZ News