I don't think it is .. I think it's fair. I've seen them for less (With more miles to be fair). I know these bikes inside and out. And I work on about 100 of them a year. I talk with owners. I know what they pay for them. And what they sell for. I get offered to buy them quite often as you can imagine.
I've talked to the owner as I'm picking it up this weekend. I've scrutinised the pictures. There is a lot of paint bubbling. It's missing the last few years of service history. Apparently the book is stamped up but I've checked the BMW online database (I have BMW dealer systems), and there is nothing recorded with BMW apart from one service at Cotswolds in 2022. So I'm taking that with a pinch of salt.
It's been dropped and scraped on the side. And it's probably going to need the shocks rebuilding shortly from my experience. It's 11 years old. With over 40,000 miles. It's got warts !!
The LC's also do not have anywhere near the loyalty attributed to them like the Twin Cams, airheads Or the now growing in value 1150 GSA's. (Thanks to Youtubers like Adam Reiman). No one is looking at an LC as a collectable. They're a fine motorcycle. Very practical. But many diehard BMW owners class them as plastic modern toys.
This year and model would list for £6000 at a dealer. Who always want to make about £1500 on a bike over a private sale. You'd probably get one for £5500 with a warranty if you pushed. PX value on it probably £3500. Insane I know.
Bikes aren't shifting at the moment. People are skint. And those who aren't skint won't be buying 11 year old beemers with bubbling paint and road rash.
Honestly, I wanted to pay £4000 for it. But the guy seems very honest and genuine. And I do prefer to buy off here than Ebay or marketplace.. And I really don't like to buy bikes off my customers... (Don't mix business and pleasure etc)..
So for me that was worth the extra dough.
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I did find one and have put a deposit on it, it’s a year older with less mileage and was under £4K. A bit of corrosion on the engine only. I Dont know a lot about the LC, so I’ll give you a shout Ted if I need work doing if good with you? 
