I didn't buy it because I thought it was rare or valuable; I bought it because it looked interesting! When I first saw it on Craigslist, but I did nothing. Several days passed, and the bike was still there. Being 1/4 Czechoslovakian, my ancestry and curiosity got the best of me. I decided to do a little reseach. Eventually I found a bike like the one listed. The owner had cleaned it up and it looked nice. I decided to call, and I bought the bike on the next day for $70. When I met the owner, I was hoping for a great story on how the bike came into his possession. I told me that he bought it in an estate sale. He said that he really wanted a kid's bike, and he had to buy the Favorit in a package deal to get it. He was essentially selling it for what he paid for it. So much for a great story!
From what I could find, the bike appears to be a 1970 Favorit F1 Special. The bike appears to be solely comprised of Favorit parts. The saddle is in good condition, but the rest of the bike is very dirty and rusty. It should make a great project and provide fantastic before and after pictures.
Although I did some research, I couldn't find much information. If you have any info that I might find beneficial, please post it. Otherwise, please view the pictures.