The purchase of this cycle was an example of rational exuberance for several reasons.
In the first place the bike is beautiful, in good condition and lacks only rims and a few minor parts.
Furthermore, the seller whom I know as knowledgeable, alleges that this is one of the earliest known examples of its kind. Although it is true that many were made, it is also true that few have survived, let alone of this period and in this condition.
The auction itself attracted about 11 bidders and several of them kept bidding till near the end of the sale. In short, this wasn't just a pissing contest between two bidders.
Among the attractions of this bike to collectors is the visual tension created by Caminade's combining of what was a novel material, aluminium, in shaped tubes, but with complex baroque lugs.
George
George Hollenberg MD
CT, USA