Simon, I was just re-reading this post and saw your piece on the Dawes racing bike. I agree that it doesn't matter if it was kept together but in pieces for 25 years. Robin's principles still apply. It started off as a complete bike, and if it has continuous history, remains that same bike, even if the frame has been repaired or replaced. Someone cannot acquire the old frame, and build it into a new Dawes racing bike and claim it is the original. The owner who restored the original still owns the original irrespective of who has done what with discarded parts. I see Aston Martin are getting on the Classic Reproductions band waggon again with "continuation" DB4 GTs. They did the same with "Sanction" DB4 Zagatos a decade or so ago, and Jags have produced a batch of Lightweight E Types. The problem for me, is that the value of the original classics rests in their ground breaking design and successes in the 1950s and 1960s. They were produced for racing, in small numbers, and so 60 years later are extremely desirable and rare. Consequently they change hands for over a million pounds each. To recreate these cars from scratch with all new components will cost more than a mass produced Porsche or Ferrari, but not that much more. The manufacturers can see that it may cost 200k each to make a small batch of replicas, and if they can persuade 10 or 20 people to part with 500k each, there is a nice little profit to be made. My worry is that in another 20 years, that some unsuspecting investor will be offered one of these Factory Replicas at the price of a true original. They will not be buying the historical importance of a car which was ahead of its time, but rather an assembly of components which have no claim to that history. In my view, replicas are worth the sum of the parts, plus a margin for putting them together. This has absolutely nothing to do with the value of the originals which they imitate. Other marques are also available!