I watched that this morning, it was quite interesting. Surprising to hear how a Harley was really ahead of the game lol.
He seems to have this thing with vehicles being 'unrestored'. He's got plenty that have been restored but he always mentions if the only change has been using a feather duster and replacing the consumables (tyres, plugs etc)
To a collector, original unrestored makes the thing in question significantly more valuable because it wears it's life story on it's sleeve. There's degrees of value when it comes to vehicles.
Resto-mod is usually the lowest value and doesn't usually return that much on the investment you might put into it. You would do this to a classic that is too far gone for a restoration (or hot/rat rod it). The only time I've seen resto-mods go for mad money is one off Boyd Codington cars. I can't remember it's name, but he built one that used one of his own chassis, with a Dodge Viper engine and then a Delahaye body on the chassis (the Delahaye probably made up the significant cost of the project). One off, hand made interior. That's the sort of stuff you have to do to make money on resto-mods. Also, having the Codington name helps.
This is the car in question. The "whatthehaye". Sold for half a million USD.
Then there's restoration. Which usually returns a decent chunk on expenditure for work done, but requires that parts are authentic new old stock / taken from a donor, or hand crafted replacements. If the car is particularly rare, the return on investment can be significant.
Then there's original unrestored. This is a gamble. You have to take the chance that the vehicle in question might appreciate as numbers dwindle. Or have bought a limited production run of a car in the first place as an investment. But that's a gamble on the vehicle marque, production numbers, and other factors. Also the vehicle in question needs to be rare. Have been a game changer (this is why Broughs and Black Shadows are such collectable motorcycles). An icon (Harley's define the "American outlaw" spirit. Say American outlaw and people imagine bikers. They see Harleys. They see the "Captain America" Panhead from "Easy Rider" or Marlon Brando climibing onto a Triumph in "The Wild One"). Have a history (raced by A / B /C or owned by X / Y / Z).
If you've ever seen the Barrett-Jackson or Bonham auctions you can see these degrees of value in effect when vehicles roll through and bidding starts. The state of the vehicle, it's rarity and it's history are what makes the difference between a vehicle selling for 100 to 500 thousand dollars, or 1 to 30 million dollars.
From what I remember, the most expensive car to go through B-J's auctions was a Shelby Cobra which sold for over 5 million USD. That was owned by Shelby himself and had quite a unique history to it.
This is the car in question.
Bonhams is where cars go for REAL crazy prices. Usually they specialise in original unrestored. They've sold Ferraris in the past that have gone for over 20 or 30 million USD. Original unrestored Ferraris produced in low numbers and usually with a unique history (raced by A / B / C at tracks 1 / 2 / 3 and won X / Y / Z or owned by $famousactor / $famousactress).
This is the worlds most expensive car. Unique racing history and completely original / unrestored.
I think Jay said he bought that Knucklehead 30 years ago. The amount of 1936 knuckleheads that have been chopped and bobbed in the US in the last 30 years, let alone the decades before that I'd hazard there aren't too many left. To have one that is original unrestored he's already onto a winner. '36 was the year the Knucklehead was introduced. So it's one of the early chassis numbers.
This fully restored '36 EL Knucklehead went for $180k USD. But then Jay's '36 now has a history, of having been owned by Jay himself. The bike is iconic. But so is Jay (late night TV host and avid car / motorcycle collector history now attached to the vehicle). Who knows what his might sell for, but he's probably got even more expensive bikes in his collection.
Edit: Included link to Codington car and Shelby.