19 Mar 2009

$71,000 paid for Burt Munro's bike

2:59 pm on 19 March 2009

A man who paid $71,000 for a motorbike once owned by Burt Munro says it was an impulse buy.

Webb's auctioneers marketed the 1936 Duncan Meikle Velocette as a piece of history and predicted it would fetch around $35,000.

Businessman Kevin Harvey of Auckland says intended to go only as high as $60,000, but he didn't bank on an additional buyer's premium of 15%.

Still, he wanted to ensure the bike stays in New Zealand.

Munro is listed in the AMA's Motorcycle Hall of Fame. He set a world record in the category of "streamlined motorcycles under 1,000cc. The AMA says he made a one-way run of 190.07mph in 1967, the fastest ever officially recorded on an Indian Scout motorcycle.

His story was told in a movie, The World's Fastest Indian, in 2005.