3.1 miles!! Its beautiful. Sometimes I wish I lived in a different country just so I could find stuff like this. Our choices are so limited in comparison unless we spend ludicrous amounts of money!
Another clue that it is a very early or pre-production bike that the seller didn't mention is the front brake arm being made of two pieces of pressed steel spot welded together rather than being a cast steel item which is standard on prod bikes. I kind of suspect the bidding will go pretty high on that one, but what the hell, the Aussie $ is doing pretty well against the greenback at the moment.
KT front brake lever arms are legendary as a conversation piece so there has been lots of attention focussed on them over the past five years or so as KTs have seen a renaissance here in Queensland. They deserve lots of attention too, because almost everyone who ever looks at a standard one cannot believe what they are looking at - such a design overkill - way too strong - way too heavy - and a very strange shape to boot. If it wasn't so amazing to look at, I would have made something much more practical years ago and saved lots of weight. So when that picture appeared on US eBay with a lever made from two laminations of flat steel instead of the shiny and elaborate oval-section cast steel production lever, I believed the seller that it was either very early production or even a pre-proddy bike. I'm yet to have a look at photos from Don Smith's book that shows the prototypes and pre-prod KTs to see what they have there.