However, this highlights the differing options in the world of classic bike purchase.
We are such a mixed bag of acquirers. Some like to buy classic bikes that are fully restored, ready to ride and enjoy. At the other end of the scale there are those who get immense pleasure by getting a frame and a few bits and making a complete bike from that.
Over the years, I've tried all options and whilst some can be more frustrating than others, they all have their advantages. The trick is to pay what the particular example is worth. Unfortunately, due to the concept of the ebay auction route, a lot of stuff gets sold for more than that IMHO.