On June 30, 1953 the Corvette went into full production (each car was built by hand) at the GM facility in Flint, Michigan, where 300 Corvettes were built that year. All 1953 Corvettes were white with a red interior, all had Power glide automatic transmissions mated to 150 HP, six cylinder engines with three carburetors and dual exhaust. This is the rarest Corvette of all Corvettes.

This particular vehicle was obtained from a family member. The vehicle was purchased over 35 years ago with a mere 2,500 miles clocked on the odometer. The original owner retained possession of this rare automobile since its purchase. We were approached to perform the appraisal because the owner misplaced the title. As our research into the vehicle progressed during the inspection process, we discovered that the owner never had the title transferred into his own name. This presented a unique challenge. A bond for the title needed to be obtained in order for the owner to legally possess the vehicle.

The market approach appraisal technique was utilized during this appraisal assignment. This action was taken as a result of the circumstances surrounding the vehicle at the time of inspection. This was found to be the best appraisal approach to use since we were determining not the replacement value but the fair market value, or wholesale value to obtain a bond for the title.