How bad is the rust?
Big rust would require lots of shop time to fix, and sourcing fresh
fender might be less costly.
Second the new fender. I have not priced a fender for a 123 lately,
but give Q a chance. Last I knew 124 fenders and 126 fenders were
just a little over $100 each.
123 now being "classic center" status may have changed the prices. If
they are now $500, then rustfree used or repair may be cheaper.
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