MECHANICAL SPECIFICATIONS: Single-cylinder, two-stroke engine. Displacement: 123.7 cc (56.5 x 49.8 mm). Transmission: gear-driven. Gearbox: three-speed. Frame: steel monocoque structure. Front suspension: trailing arm with spring. Rear suspension: hydraulic shock absorber with spring.

HISTORY: In 1953, Vespa production began in Spain under licence from its creator, Enrico Piaggio, at the new Motovespa S.A. factory on Julián Camarillo Street in Madrid. Five years later, this version, the 125 N, appeared on the market, available in two colours, grey and beige. It was already equipped with a headlamp integrated into the handlebar, which also concealed all cables and control mechanisms. It was the first Vespa whose basic structure, the monocoque forming both chassis and bodywork, was made from two pressed steel half-shells joined together.

This example was restored some years ago and will require only a simple tune-up to return to running order. The Vespa is an icon of motoring history, and its value as a collector’s vehicle has been steadily rising for some time.