2002 Yamaha R1 Formula Xtreme Race Bike


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Additional photos of this Formula Xtreme race bike are available here for your perusal.

Built by Graves for No Limits Motorsports, this Yamaha R1 competed in the 2002 season of AMA Formula Xtreme.

It was piloted by South African Lance Isaacs, a former WSBK rider. It was No Limit’s rookie season in AMA, and even though Lance was new to all of the tracks he competed on, he placed 5th overall.

Lance aboard this very machine back in 2002.

No Limit was owned by the family of rider Jason Curtis, who was Lance’s teammate at the time. After the season ended, the bike was stored with No Limit in Santa Clarita, California until the seller purchased it in February 2021, dusted it off, and brought it back to life.

The seller flushed all fluids (oil, fuel, coolant, brakes), replaced the injectors, spark plugs, and battery, and “the bike was partly stripped down cleaned checked and rebuilt (rolling chassis + engine). No surprise it started first crank and the engine is extremely healthy. I also replaced the grips with the same grips that were on it as they’d gone tacky over the years in storage.

The seller sourced Pirelli slicks from Iconic and “hit 1/2 a track day at Buttonwillow, the bike is everything it cracked up to be with a beautifully set up chassis and strong engine. The chassis setup on the bike makes it feel smaller than a 1,000cc and allowed for changes of direction and line adjustments on a dime.

The seller at Buttonwillow.

WSBK Ohlins FG8700 front end, WSBK 1pc billet Brembo brakes, WSBK Brembo floating discs.

WSBK Ohlins rear shock.

Marchesini mag wheels (16.5″)

Graves Factory radiator.

Graves triple clamp.

Graves titanium exhaust.

Graves rearsets.

Zero Gravity windshield.

Not pictured are a YEC Harness/ECU, Power Commander, and a custom ram air intake.

According to the seller, the engine is rated at 197 hp and it was “freshened before the last round.” It’s paired with an undercut gearbox and a slipper clutch.

The engine can be identified with NL markings on the crankcases and cylinder head. There are No Limits motorsports stickers on the wheels, and markings on the discs and rear shock to identify it’s the complete package.”

“I have the original numbers from the bike to match the pictures attached, they had gone a little bad over the 19 years in storage so I chose to pull them off. I can supply them with the bike if anyone needs. I also have the bill of sale from Jason.”

Lance leading Ben Spies back in 2002.

The seller adds, “Graves developed this bike alongside the R7/1 factory bike (Iconic sold Damon Buckmaster’s R7/1) to gather data for the next year when the R7 was ineligible.” This example is VIN: JYARN10Y92A000849, Engine #: N508E-002341.

True mileage is unknown.

Cosmetic Blemishes:
The sticker notes that there are “light scratches as expected with race use.”

The tire date codes are both 0120.

Currently located at our facility in Santa Monica, California (please make an appointment for an inspection), this Yamaha is offered on a Bill of Sale only. Have any Formula Xtreme stories or questions about this listing? Let us know in the comments!

Additional Information


Santa Monica, California








True Mileage Unknown




Bill of Sale Only

Title State/Country


Private Party/Dealership

Private Party

Additional Charges


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Shipping Information

Continental US:
Haul Bikes will ship anything sold through Iconic for $660 in the Continental US, and Iconic will handle the paperwork on your behalf. You do not need to crate your bike or drain the gas/disconnect the battery if you go with Haul Bikes. We are glad to work with the shipper of your choice as well, but you will have to arrange it.

Please note:

  • spares/extras will have to be shipped separately via FedEx or similar.
  • the fee includes $15,000 of insurance with a $500 deductible. Additional insurance can be purchased at a cost of $50 per additional $5,000 of value.
  • additional details can be found here

Southern California
On a case-by-case basis, we can transport motorcycles in our van.

We are located in Santa Monica, California 90405.
Local Rates (one way):
0-50 miles: $150
50-150 miles: $300

Please contact concierge@iconicmotorbikes.com for a quote.

We recommend TFX

$1,500 for Los Angeles, CA to Canada is a ROUGH ballpark, please contact TFX for an exact quote including shipping and customs.

Europe and Asia:
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