Prices of anything are based on a balance between supply availability and demand.  Due to the timeless design features of the Vespa and Lambretta scooters these are now as desirable as the top marques in any collectible category from classic cars to antique furniture.  Demand is high but availability of the high end ‘in demand’ machines is low. This has resulted in the price explosion.

The vintage scooter market in 2021 is now an interesting mix of three types of buyer. Firstly older collectors like me, secondly returning aficionados who used to own a scooter and want one again, and finally the ‘new’ collectors.  It is these new collectors largely in my opinion who are driving the market ever upwards in price.  It is also the new collectors who are hoovering up the previously less desirable models often due to lack of knowledge but sometimes due to the fact that they are not as fussy. But as I have found they are not always doing themselves any favours if they are looking for a future investment due to lack of long term knowledge.

It is becoming more common for collectors of classic cars or industrial design for example to have at least one design icon motorcycle in the corner of their garage, or a showpiece in the living room, they don’t take up much space.  The original and older collectors returning to the market also have more disposable income. The other tremendous feature of these particular collectibles is that they are functional.  You can ride them with friends.  They make a terrific noise and the grandkids love looking at them.

So how do you know which ones to buy if you are looking for a collectible scooter that is fun, or simply an investment or a combination of both?  I have set out below the main levels in priority order.

Before we look at the qualities a machine needs to have we need to look at the other parameters  first.

• Top marques.  The larger engined machines generally as a rule of thumb are top of the tree.  They were more expensive when new and hold up better in todays modern traffic.  They were also usually produced in fewer numbers due to the additional cost and at the time sometimes needed an extra license to ride.  In a general sense they are rarer for these reasons.  Rarer machines I.e that were built in fewer numbers are generally worth more.
• Geography.  In different countries the collectors taste for scooters varies.  Word of mouth and tradition really does affect the prices of scooters where they are sold even to this day despite its global social media attention and myriad of Facebook groups.

In the UK for example the Lambretta is sought by far more collectors than the Vespa even to this day.  The reasons for this are largely historical.  There were two main reasons for this.  Back at the time of the original sales the UK had a dynamic national dealership in Lambretta Concessionaires who created and developed a thriving home market, whereas Vespa had a poor dealer in Douglas who were underfunded.  The UK also had its own ‘mod’ style and fashion movement which is also still in vogue today.  Of course Vespas were also loved by the mods but the numbers were far less. This combination has defined why the Lambretta is sought by more people in the UK.  It does not absolutely define the individual values as some Vespa Douglas models are in fact far more valuable than Lambrettas. Interestingly the really high values of Italian market only scooters in Italy do not carry over to the UK collectors market so well for example. Exceptions in the UK are Maico scooters, Piatti’s  and a few others which are highly collectable anywhere.

In Italy the Vespa was, and still is, king.  For similar reasons to the UK regarding Lambrettas the Vespa entered the hearts of the population due to its lower cost, beautiful lines and brilliant marketing by Piaggio.  Innocenti’s Lambretta were also huge in Italy but Vespa won the early market share and never really conceded first place over the next decades at all.  It is still well known that you can source Lambrettas in Italy for less than you can buy in the UK (although even this is changing) but Vespas less so.  Prices are eye watering in the motherland now and it is not unusual to see a ’98’ Vespa model for sale at over 100,000 euros.  It is inconceivable that these prices can be achieved outside of Italy and it is a rare collector who owns one.

In France ACMA the licensee for Vespa were very successful while Industrielle de Troyes the Lambretta licensee less so.  And this translates again into todays values. Exceptions are the home built Bernadet etc which command good prices.

Germany today has a huge following particularly for 1950’s ‘handlebar’ Vespas and again much less demand for Lambrettas.  The Germans however are less fussy about where their Vespas originated from.  The German licensees for Vespa (Hoffmann and Messerschmidt scooters), are more sought after there but German collectors also keenly buy Douglas Vespas, French ACMAs and Italian market scooters, or even USA market Vespas in equal measure today.  The  original 50’s and 60’s market in Germany was more evenly spread with many home built marques like Zundapp, Heinkel etc taking much larger  share of the market at the time, hence home market Vespas are very hard to find now and values are high.  For Lambrettas in Germany, NSU soured the pitch in the 50’s as a licensee and the market never really recovered for Innocenti in Germany as Lambrettas were thereafter imported from Italy.

In the USA and Australia todays prices are typically as much as half of vintage scooters in Europe.  Less demand and more availability play a factor here.  The USA is a good place to source a vintage scooter both Vespa and Lambretta as the machines were almost all imported as they were built and therefore of the same quality and have the same design functions as the originals.  Certain differences are positions and types of lights which do skim some of the value off of some of these machines.

In Spain the original home market in the 50s and 60s was strong and the licensed Spanish built machines from Locomociones and Eibar for Lambretta and Motovespa were all well made.  The demand in Spain today however is low.  I have no idea why.  Spain is a good place therefore to source a well built vintage scooter but of course the value of a Spanish built scooter is less for these reasons.

For the Far East there is a different story tell.  Demand from collectors in Thailand, Indonesia, Japan and the Philippines for example is disproportionately high for Italian built machines, and particularly for original accessories which they love.  Machines particularly Italian Lambrettas are still regularly exported to collectors in these countries.  However Far East and Indian built machines are to be avoided, they simply do not have a collectors value and are generally poorly made.

Useful information before valuation

Age.  The cut-off for vintage scooters to be really classed as vintage would be around 1971 for Lambrettas. Which the exception being the Spanish built Jet 200. And Vespas up until around 1976 at the end of the Rally range.  Of course it could be argued that the Vespa PX and PE ranges are now vintage and in the future this may be so.  But age is not the defining feature.  For example a 1947 model A Lambretta can be sought for less than a 1967 SX200.  In Vespa terms you can buy a 1959 VBA for a quarter of the price of a 1975 Rally 200.

Registration.  An imported scooter once registered will automatically increase by between £500-£1000 in value.  If the scooter was originally sold in the country i.e Scooters sold in the UK originally and still holding their original registration as a V5 also hold a premium

Documentation.  Proof of age and provenance cannot be underestimated with regards to original sales and registration documents.  They simply cannot be argued with.  The Italian Foggio Complimentare is absolute proof of the scooters original chassis number as is the brown buff log book issued in the UK.  Photos of previous owners and any magazine inclusions etc all add to the overall value.

So what are the basic rules to ensure I am buying the optimum investment?

Altering a scooter better for performance or to visually change may be how the owner wanted it but you will be affecting its future investment value.

From 1. Most valuable

1. Original paint. Original unaltered engine. Original electrics and with original accessories

By far the best and safest investment.  The accessories are almost certain to be the correct for the era and any holes made for those accessories will stay there.  Paint durability and patina in the best condition will ensure a higher value. If the original cables are still in place and function leave them there.  Time warp.

2. Original paint with original unaltered engine and original electrics

Paint durability and patina in the best condition will ensure a higher value.  Original cables and everything it left the factory.  Leave it alone.  A time warp that will only increase in value.

3. Original paint with enhanced engine and electrics

Paint durability and patina in the best condition will ensure a higher value.  However the moment the engine has been altered the value goes down.  New cables and uprated electric voltage will also affective purity of the machine.  It is impossible for future owners to know exactly what went on. There are now specialists in ‘rusterations’ utilising the existing parts including revitalising the nuts, rubbers and other fixings.

4. Professionally restored in original colours and with original engine

Once a scooter has been repainted it has been devalued.  Fact. The definition of ‘Professionally restored’ is impossible to absolutely define.  Check that the job was done by someone who has a good reputation.  Check that the paint code used was the right one.  Also check where the parts came from.  There are so many bad replacement parts on the market, even by so called reputable suppliers that it is now a minefield.

5. Professionally restored or customised in non original colours

The scooter being what it is lends itself to being customised just as its owner wants.  This is one of the great attractions of having one.  However the moment the colour changes the value goes down.  We have all seen the most amazing designs, beautifully painted in all kinds of colours with fantastic and valuable accessories.  The costs of doing this can be very high.  But spending vast amounts on beautifying or customising a scooter do not guarantee a good resale value. In fact they usually do the opposite.

6. Restored using non original parts or accessories

It is a travesty to see and hard to understand why some of the most valuable machines have been ruined by the use of reproduction accessories or non standard parts.  Any future owner should certainly have all of their alarm bells ringing very loudly.  It sends a clear message  to an investor that there have been shortcuts taken.  Avoid.

7. Far East built scooters

Avoid at all costs.  This is not an investment.  I am yet to see any Far East or Indian built scooter ever achieve a higher value than when it was bought.