There is a funny story with how I came up with the bike(s). Honda only made the CB450T Hawk one year in the states and I've wanted one for a long time. I found a listing on C/L for a black 450 but wanted the gray model more. The black bike was running but it had been stored outside for quite some time. Bad tires, blown forks, locked up brakes but it was all there. I thought $400 was fair for a good project bike. The next day, the guy I bought the bike from called and told me there was another for sale in the area on C/L. This one was the gray model and looked great but it had a bad head and a broken stud. Everything but the engine on this bike looked great and the guy only wanted $200! So long story short, I pulled the engine from the running black bike and installed it into the gray bike. So to answer your question, the gray bike shows 25K on the speedo but the engine really has 45K.
$600 total for 2 bikes ain't too bad...
P.S. - I do plan on rebuilding the bad engine with some hot dog parts and re-installing.