All I can say is I hope the buyers did their research. The thing I still find interesting is that the only difference between Krate models is color, decals, etc. So if not a documented original and restored, can you tell it started out as a Cotton picker? or are you paying an additional 11K for different color and decal name ? In other words wouldn't it be possible to restore every Krate as the rarest model ? Yesterday on Barrett-Jackson they auctioned a 70 Chevelle restored in rare Carolina Blue factory color. Thing is serial number plate shows this as an original Carolina blue car as it left the factory. Don't think on bikes you can determine original color if restored. I don't know, does anyone ? I would love to know. Although these Krate's are absolutely beautiful and quality restorations, to me nice unrestored would be the only option if I were to purchase a high end model.
Whenever I would sell a 1971 5 speed Stingray frame to someone who said they were building a Krate I would ask what color/model they were building. If they said they did not know I would tell them the year of the frame is a 71, so they should build a Grey Ghost as it would cost exactly the same to build and they bring more money if they were/decided to sell it. That is the case even though the frame may have started it's life as a non Krate 3 or 5 speed Stingray in any color. It is no more expensive to paint a bike silver or recover a banana seat in black material. Actually the black seat covering is easier to find than say the green glitter of a Pea Picker set. And decals and grips are all the same price. And yes you are correct in that the serial number on these just state the date frame was stamped, not color or even model of bike it was originally. I know a lot of Krate bikes were built but destroyed or put in landfills before they became a collectable type bike, but there may well be more Grey Ghosts around now than say 10 years ago if you count restored ones.
On the other hand when I have sold complete rough but original Grey Ghosts that the buyer said they were going to restore I would first tell them I would not paint the bike even though paint is worn to keep it original paint at least. That said if they were dead set on painting it but keeping it a Grey Ghost I would tell them to put a piece of tape on tube where badge would cover the area, and/or on the bottom of the frame crank area, areas kind of hidden and not viewed. When painted take off the tape to show it was that color originally.