Has anyone titled an untitled bike through the 'Rebuilder Title' route as is outline on http://www.colorado.gov/cs/Satellite.../1221475087616 ?

It all seems pretty straightforward until the bit about... take the bike to a dealer and have them appraise the retail value (as it will be after rebuild?) and then pay a bond equal to TWICE that retail value. Am I reading that correctly? So you buy a basketcase exotic bike for half its 'retail' value... then fix it for probably another half its 'retail' value... then give some bonding agency 2x its 'retail' value in order to title a 25+ year old bike with 'no acceptable ownership documents'. And if the bike is rare so 'retail' value is expensive... does that mean bond is impossibly expensive?

And you have to get TWO vin inspections? (the second when you are ready for the road and a real title).