This doesn’t really bother me too much if some one wants to pay that much then good on them. By the looks and sound of it, it is as good as the seller says, so its certainly worth a fair bit but its kind of hard for me to say what its really worth, as its not a bike I desire to have so I would naturally tend to value it less than what it may be worth to someone else, but I know how much time and money goes into a bike like that. i would be tempted to say not US $11600 but more like AU $11600. The key thing is that its well done and I assume pretty much brand new condition and if a couple little things were corrected its certainly worth a fair bit.
When you try and do a restoration like this it can be overwhelming and a bit too hard for someone to do it them selves so the only option is to get a professional to do it or buy one that has already been restored, So if you are a TS 400 freak and this is what you wanted then only you could see the reason for paying this much and in your eyes it would be your dream bike.
The only thing that bothers me is that when people aim to do concourse original restoration or say they have done one but then highly polish stuff thats not ment to be that sort of finish and have incorrect colours, finishes or decals.
I reckon the buyer of this TS is and will be very happy with his/her purchase. (as long as the seller isn’t dodgy and fitted a hollow engine, don’t laugh I know guys who have been scammed before!, they buy bikes on ebay or elsewhere and then discover the engine cases are hollow when they get the bike, ouch!) If it’s something they have always wanted but never had the skills, time, knowleged or money to pay someone to do it then this would be the bike for them. Some people don’t have time to buy lots of nos stuff on ebay and all these little packages of $10, $20, $30, $40 US and up for shipping costs really does add up.
Its all very easy for us who have the time, skills and no where to buy all the nos parts but for some people its just better if they can buy a bike already restored.