No, again!

http://milwaukee.craigslist.org/bik/3862686493.html
Bottecchia Champione del mondo 1966 10 speed ladies bike - $475 (Milwaukee southside)

This is a real clean bike from 1966 Campione

See, these bikes had a sticker on them that said they were the Champions of the World in 1966.  It's not uncommon for bikes to display victories that were won on them.  And because these dont have the traditional top tube decals to identify the model thats what people think they're called.  The way you identify them is through the componant list, but hot damn this bike is worth about a quarter of what is being asked.  Cheap brake levers, cottered cranks, cheap rack, bad fenders, cheap seat, kick stand, and our old friend the micky mouse simplex shifters. 

People just associate Italian models with high end racers.  It's the same reason why some American made bikes adopted Asian sounding names in the late 80s.  Consider that in Italy there were plenty of people looking for cheap entry level bikes, and companies like Bottecchia were shipping to diverse markets all over the world.  Dont get caught up in your cycling prejudices, the Italians were perfectly capable of making crap. 

Bottecchia Campione Del Mondo

http://duluth.craigslist.org/bik/3835351615.html
Vintage Road Bike. Excellent Condition - $400 (Duluth)

Beautiful Yellow 1970's Vintage Men's BOTTECCHIA CAMPION DEL MONDO 10 SPEED RACING BICYCLE. ALL ORIGINAL DECALS AND BADGES. Excellent Original Condition although dusty from storage. New Tires and Seat.

I love this bike but unfortunately is a man's bike to big for my women's frame. It was hidden in my grandfathers basement and I was thrilled to find it and get it going again. She is beautiful and gets many compliments for her hipster beauty. May need a little tuning but overall rides well.

Look how not lined up the lettering is on the down tube.  Bottecchia's are nice looking lower end bikes that occasionally had some odd options.  For example I picked up a Bottechia Giro D'Italia frame, near the top of their line in the 70s, that was a very light Columbus tube frame with campy shifters/front derailler, a shimano long cage rear, and cheap Nervar cranks.  It didn't make a lot of sense. 

I dont know that this is the actual model name, as I dont think these were clearly labeled.  The paint on this is decent but not fantastic, and as much as I'm rolling my eyes at 'her hipster beauty' the seller seems very sweet.  In the part of the ad I didn't include she comes off like we'll be friends and maybe, just in an ancillary capacity, you'll also buy this bike.  The pedals are in pretty good shape.  Those are definately simplex shifters and the long cage rear mech is probably shimano or simplex too.  No good look at the crank but it's probably Nervar.  $400 is bonkers overpriced, but it seems like it's more out of ignorance than opportunism.