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I bought a low mileage 1999 K1200LT in 2006 and love it. It has been the go to bike for all our two-up long distance travels. I've done just about all the maintenance myself (weep hole, valve adjustment, speigler brake lines, etc). My point is, I know the bike and plan on keeping it as long as I can hold it up. I recently bought a 2nd 1999 with a flashy custom paint job that a Harley dealership didn't quite know what to do with it. This will be a parts bike. I sold the painted tupperware. I plan on keeping the engine, transmission, and rear drive on the shelf but what else? These bikes, once disassembled can take up a lot of shelf space. Any thoughts?
 

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I would be keeping the ABS module although a failure there will not impact your ability to stop on a 99. The Motronic. A set of wheels might be nice as you could have your spare rubber already mounted when you needed it. It is unlikely the tank itself would start leaking but the fuel pump and sending unit might be useful should the others fail you. Depends on how much space you want to dedicate to spares.
 
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