A couple of weeks ago I bought a 2003 VTR250 with 3500km on the clock, like new, no registration, no plate. On my way back, still in Bangkok, the cops flagged me out of traffic - they'd seen me on the monitor in their AC police box. They gave me a long talk in thai, I didn't understand a word; I produced the sales contract and the invoices of frame, engine, aso, told them I was on my way to Red Baron's (true) to get my bike legal (not true). They went on, finally I called a friend to translate. After a long talk with the cop she told me that there are two serious problems: my bike as such was imported in parts and not supposed to exist as a vehicle moving in traffic - I proved that by showing them the invoice! The second problem was that I hadn't payed any taxes and thus cheated the kingdom of Thailand out of serious money. She told me they're going to impound the bike. Well, I've been here for a while and asked her to "work something out". To make a long story short, it took at least another 20 minutes of back-and-forth phone calls (my phone battery was almost empty afterwards) to get them from 5000 THB to 3000 THB and then to 2000 THB - they wouldn't go lower than that. After I paid, they were my best friends, waving me off. I got their telefone # in case I was stopped again, but had no problems getting home.
Here in my village I ride the bike every day and have no problems at all.
I guess if I would have hung my Wave plate on the bike they wouldn't have stopped me.
What's the final word on being able to insure and tax a bike without papers?