A brand new, "all-improved" Vespa PX for €4,000 as recently quoted by Scooter Island.
A brand new genuinely improved LML 200 for €3,850, also at Scooter Island. Yes, that's with a 200cc (200!) engine with an old-school style manual transmission for less than the price of a 125cc Vespa.
Thankfully, it's not a question that I'd have to answer any time soon. That would certainly wreck my head.