Before I plunked down $ on a collectors bike like that, I'd be wanting to see the before and after pics.
The auction description is kinda strange. Been sitting for 50 years, original miles, all original.... but then he says he's had $20,000 in work done to it?
It would seem to me that you'd have to go nose-to-tail and do a complete rebuild / refinish to spend $20,000 on a project bike, even if you're paying someone to do the work. Sounds like it might have been a rusty heap sitting for 50 years if it needed $20,000 in work to make it look like it does now.