Post Sale Update: This project sold quite quickly at the asking price of $1,250.
It’s a well known success story of how “Paco” Bulto resigned from Montesa in 1958 and formed a new company that had almost instant success on the track and a long and legendary run in dirt racing.
The Matador started out as a 200 CC dirt warrior that had lights, a horn and speedometer so it could be licensed and titled as a street bike. By 1968 displacement had grown to 250 CC (MK 3) and was a very solid dirt racer with lights. Many, if not most, had the lights removed (or crashed off) and turned into pure dirt machines.
The 1968 Bultaco Matador MK3 used a 244 CC air cooled single cylinder two stroke motor that made 23 HP pushed through a 5 speed transmission. With an exceptional frame and suspension and a dry weight less than 250 LBS (112 KG) it was a formidable competitor right out of the showroom.
This particular 1968 Bultaco Matador is in Los Angeles, California and is listed as a mostly original survivor. It is raggedy, but looks to be almost all there, and a good many parts are available today. The lights and street legal stuff goes with the sale as does the original owners manual and a service manual. The bike has a Buy It Now price of $1,250
For the record, this is what the bike looked like new. I think I would tear this bike down, paint (powder coat) polish and rebuild with some repop parts like aftermarket fenders and end up with a good looking and unique bike for a relatively small investment. This is not to be considered as advice, and certainly not as financial advice. I know that you would spend at least double what you could hope to sell for.
Sources:
Vintage MX
Bultaco 700 HP
Wikipedia
Photomotos
MC Classics