Burton Bike Bits sell Boyer units for similar money. Boyer Electronic Ignition Kits and Powerboxes for Triumph, BSA, Norton, Royal Enfield
It's a bevel, and bevel prices have been rising across the board for the past 5-10 years, especially a bevel with "SS" in the name. It seemed bit expensive to me at first but I haven't really followed the squarecase market for a few years so it could be about right. I dunno... it's also in pretty good shape, considering. At least it's still more or less original in that no one has hacked it up into a project or done a half assed restoration on it. I was going to say I saw one for sale in similar condition for half that price a few years ago, but now I'm realizing it was probably closer to ten years ago. Time flies. Anyway, I think part of it is the bike is one of those things that guys wanted back when it was new but couldn't afford it. Now they can, and Ducati's success over the past 20 years hasn't hurt either. What's that line out of the Gione in 60 Seconds remake about having a new Ferrari vs having an old one? I attached an article by Peter Egan describing his thoughts on one at the end here. Probably a little too sappy for some of the hard core riders here but it just shows that certain bikes strike a chord in some people, and this is one of them.
"Idiots" aka anyone with more money than you who likes Italian bikes? Most every idiot who bought one of those in the past 20 years can now sell it for more than he paid. In some cases much more. It's a bike that is financially worth rebuilding from a barn find. That bike falls under the category of "He didn't pay too much but he may have bought too early"... and in the meantime he's had a bike that can run and hide from every CB350 "cafe racer" this site has ever seen. Hell, the exhaust note alone is worth what a CB350 would cost.Because there are idiots out there that will pay it.