Prove It®_______________________________ David Burroughs David@Prove-It.net 309 261-0992

Assessment of Authenticity and Attributes of Value

Photo by Dave Newhardt

Subject Vehicle: 1967 Corvette, VIN194377S118237

December 12, 2018

Copyright © 2017, 2018, 2019 by David Burroughs All rights reserved

As Found in Colorado Springs

Photographed by David Burroughs

Subject vehicle #18237 was continuously parked in the same garage

from May 20, 1967 until February 12, 2012 (Nearly 45 years)

Complete video of owner interview and history by David Burroughs on file in the History Box.

Prove It Report Subject Vehicle 1967 Corvette #18237

The Process An in-depth inspection of 1967 Corvette VIN 194377S18237 was conducted on the four primary areas of the entire vehicle (exterior, interior, engine bay, chassis) as well as examination of attendant ownership paperwork and original GM documentation. The photographic and document findings were catalogued so that an analysis of #18237 could be completed, contrasted, and compared with other vintage high-performance sports cars including and beyond 1963-67 Corvettes. The findings and flash drive of photographic evidence associated with the vehicle can be found in six volumes located in the History Box provided with this report. The Attributes of Value The analysis examined the relative strengths of accepted attributes of value. Specifically, those attributes include the certainty of identity, originality, authenticity, condition, repair, visual impact, mileage, desirability of options, ‘specialness’ when new, documentation, roadworthiness, functionality, reliability, provenance, and historic significance, The Implications: The strengths of these attributes historically drive the trajectory of long term value. This correlation commonly extends beyond vehicles to art, antiques, and other collectibles. Of course, the more attributes of high strength, the stronger the implication for inclining values. Summary of Findings: Subject vehicle #18237 has very high strengths in each of the attributes of value. This fact is an unusually rare occurrence among high-performance vehicles of this era. They were capable of high performance and their owners used and abused them over the years. Therefore, five decades later, the vast majority of remaining vehicles of this vintage and type (Corvette, Mustang, MoPar, Cobra, Ferrari, Porsche, et al) have had a high mortality rate and have needed significant reconstructive efforts to restore or replicate some semblance of credible identity, cosmetic attractiveness, and mechanical performance and reliability. In sharp contrast with the vast majority of similar high performance vintage vehicles, the subject vehicle is uniquely preserved in nearly new and unrestored condition. The only attribute that cannot be given an exceptional rating is roadworthiness. Due to corrosive deterioration inside the fuel tank, an alternative fuel tank was created to allow the car to be operational for a limited period. The alternate fuel tank is undetectable to the common observer even when told where to look. Conclusion and Trajectory of Future Value Based on the documents and photographic evidence, #18237 is an important historic industrial document. In accordance with historically observed trends over multiple year spans, it may be inferred that the future value of the specific subject vehicle #18237 will be upward rather than static or downward due to the multiple high-strength attributes of value. _________________________________ David Burroughs Date

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Summary of Findings 1967 Corvette #18237

The following narratives and photo documents provide insight into the relative strengths or weaknesses related to each attribute of value associated with the subject vehicle.

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Documentation A full set of original GM documents exist in good condition, including window sticker, warranty book, and dealer documents on file with the current owner. Copies are filed in the History Box. The fuel tank sticker with all data intact, remains originally attached to the fuel tank which has not been removed since assembly plant installation. NOTE: It is strongly urged to NOT remove this document or fuel tank in order to preserve and protect the credibility of the document, the fuel tank installation, and the subject vehicle. The document can be readily viewed in place with a flash light if the fuel fill boot is slightly retracted. Personal documents associated with the purchase and ownership by the original owner, Mr. McNamara, plus subsequent owners are on file in the History Box. It is uncommon that high performance vehicles of this era retain much if any credible documentation associated with their identity, provenance, history, originality or authenticity. The subject vehicle #18237 not only has the original documents, they are in excellent condition.

This is a highly uncommon and highly important benefit associated with the subject vehicle

Visual Impact / Desirability of Options

Based on the following factory options plus a non-original set of Dayton tires installed by the owner in 1967, the subject vehicle would have been desirably equipped when new and would have had very high visual impact. It would have been a ‘special’ vehicle when sold new in May, 1967 and still retains a very high degree of visual impact in January 2019. The following factory options still rank high in visual impact and desirability. • Coupe (body integrity) • White w/ Red Stripe & Interior • Dayton Blue Ribbon tires (double white w/ blue stripe, purchased separately) • Aluminum alloy wheels • Side mounted exhaust • Telescopic Steering • Tinted Glass • 427/390 Engine • 4 Speed Transmission • 3:36 Ratio

It is somewhat uncommon that desirable options also create high visual impact.

Condition (Damage, Deterioration, Wear, Repair)

Exterior: The unrestored condition of all exterior components, materials, and finishes is as new. This includes paint, fiberglass, glass, and hard trim. There are no obvious signs of wear, deterioration, refinish, repair, restoration, replacement or alteration evident. Several pin-head size chips and several brushed touch-ups appear in the paint. But they are insignificant in importance and almost unnoticeable. Interior: The unrestored condition of all interior components, materials, and finishes is as new. There are no obvious signs of wear, deterioration, refinish, repair, restoration, replacement or alteration evident. This includes paint, fiberglass, carpets, seats, glass, dash components and interior hard trim. In other words, it appears that all interior components are original and in original as new condition. Engine Bay: The condition of all unrestored engine bay components, materials, and finishes is as new. This includes paint, finishes, wiring, fiberglass, and accessories. There are no obvious signs of wear, deterioration, corrosion, refinish, repair, restoration, replacement or alteration evident. The condition of refinished original components is also as new. Chassis: The unrestored condition of all suspension components, materials, and finishes is as new. There are no obvious signs of wear, corrosion, deterioration, refinishes, repair, restoration, replacement or alteration evident. However, numerous bolt heads have been sprayed with a flat black finish. This is inconsistent with factory procedure. It is unknown whether this was done by the servicing dealer or original owner. Its subtlety is virtually unnoticeable to anyone unfamiliar with factory procedure.

Roadworthiness (Electro-Mechanical Functionality / Reliability)

Due to the extremely low mileage, it is impractical and unadvised to sacrifice additional mileage in order to test and troubleshoot roadworthiness of a car that is nearly brand new and that will likely never again be significantly driven. Instead and in the interest of preservation, the vehicle has been given brief operational tests of starting, idling, moving under its own power, shifting, and braking. Starting, idle, leak checks, shifting, and braking were found satisfactory on July 24, and November 26, 2018, understanding that none of these checks were done under heavy performance criteria. All electro-mechanical functions plus pressures and temperatures were measured and nominal. Based on testing of this type, no evidence was found or suggested that the subject vehicle would not be reliable or roadworthy other than the limited capacity of the alternate fuel tank.

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Provenance The continuity of provenance and records is known, photographically documented, and unbroken from original selling dealer, original owner, second owner, conservator, and subsequent owners. All documents of provenance are on file in the Vehicle Documents Volume in the History Box.

o Donald McNamara Original Owner o Karin Bock Inheritance Owner (never took physical possession) o Mark Davis Third Owner o Joel Owens Fourth Owner

This is highly uncommon and a highly important attribute.

Historic Significance The historic significance of this vehicle was minimal to nil during the period from 1967 to 2012. Since the discovery of the vehicle, documentation of the circumstances and conservation process sponsored by the fourth owner, Joel Owens, the subject vehicle has become an important historic industrial document. It documents the St. Louis Corvette Assembly Plant process, the detailed forensic characteristics of well-preserved unrestored Corvettes, and can serve as an educational tool for the greater good of automobile conservation into the future. It also can serve to provide directional guidance for more historically accurate restorations / conservation of all automobiles. This vehicle is a highly uncommon and highly important asset in that it contains and illustrates the textbook visual data that cannot easily be described by words or even photos. This data has to be seen and felt to be understood and accurately retained. This vehicle is one of an extremely few that can serve as a virtual textbook of originality, condition, textures, and authenticity in all four sections of C2 Corvettes; exterior, interior, engine bay, and chassis. It belongs more appropriately in the Smithsonian than in car show displays. This is highly uncommon and highly important attribute associated with the subject vehicle.

Trajectory of Future Value One of the resultant attributes of value is the probability of future long term desirability and value. In accordance with multiple preceding high-strength attributes of value, this in itself becomes an additional potential attribute of value.

Corroboration The assessment of data and evidence associated with the subject vehicle #18237 has been reviewed by independent outside reviewers to determine if any evidence or data is confusing, contradictory, incomplete, or arguable

No discrepancies were found.

InSight™_________________________________________________________________ The World’s New Standard in Vehicle Authentication

Collectability Standards include these attributes.

Subject Vehicle: 1967 Corvette, VIN 194377S118237 N/A Low Moderate High Exceptional 1. Historic significance 0 0 0 0 0 2. Preserved unrestored original 0 0 0 0 0 3. As new condition 0 0 0 0 0 4. Low mileage 0 0 0 0 0 5. VIN original ID stampings 0 0 0 0 0 6. Manufacturer documents 0 0 0 0 0 7. Functionality/Roadworthiness 0 0 0 0 0 8. Provenance 0 0 0 0 0 9. Unbroken chain of custody 0 0 0 0 0 10. Documented authenticity 0 0 0 0 0 11. Specialness when new 0 0 0 0 0 12. Interesting story 0 0 0 0 0 13. Visual impact 0 0 0 0 0 14. Desirable options 0 0 0 0 0 15. No damage history 0 0 0 0 0 16. Popular year, make, model 0 0 0 0 0 17. Flagship of Manufacturer 0 0 0 0 0 18. Sound impact 0 0 0 0 0 19. Conservation records 0 0 0 0 0 20. Limited number of drivers 0 0 0 0 0

Performance Standards • Most collectable vehicles may rate on many of these attributes to some degree. • Some may rate highly on multiple attributes. • Rarely do vehicles rate highly on the clear majority of attributes. • Very rarely do vehicles rate highly on the vast majority.

This vehicle rates highly on all twenty (20) attributes substantiated by documentary evidence in the History Box.

_______________________________ ___________________________________ David Burroughs Date Tom Hill Date

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Detailed Findings

The following documents and photos are a small sample of the entire body of evidence contained in binders, videos, and flash drives of photographs spanning the continuous documentation of this vehicle from May 20, 1967 through January 3, 2019.

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Documents

Window Sticker #18237

Window Sticker (Reverse Side)

VIN ink visible in reverse

Fuel Tank Sticker (Order Copy)

10706 is dealer code for Ray Motor Co, Lamar, CO

236 in pencil is consistent sequence number for VIN 18237

Don J. McNamara check payable to Ray Motor Company

Sales receipt from Ray Motor Co to Don J. McNamara

GM Warranty Book

Original plate stampings and carbon transfer

VIN 194377S118237

Identification Stampings

The VIN stampings on the body, engine block, transmission, and frame of the subject vehicle are consistent with known exemplars. The trim tag (build date, paint/interior codes, etc.) are also consistent with known exemplars and show no evidence of unusual or questionable procedures. These findings are not rare or unusual but are extremely important requisites regardless of the strength of the other attributes of value.

Body VIN 194377S18237

Engine VIN 1194377S18237

Engine assembly date and suffix code

T = Tonawanda Engine Assembly Plant 0418 = April, 18, 1967

IL = Code for 1967 427 cid / 390 hp

Original engine pad 194377118237

Engine block casting date inverted on passenger side of block

C 31 7 is code for March 31, 1967

Build Date J10 – May 10, 1967 Trim Code 407 – Red Vinyl Paint Code 972 - Ermine White

Trim and VIN tag location under glove box

Mileage (accuracy / rarity)

The finishes and condition of hundreds of components within each section of the vehicle are consistent with the unrestored finishes and nearly new condition of other exemplar vehicles of comparative vintage and mileage. The finishes, textures, and forensic witness marks are reliably consistent with actual mileage of 2,996 miles since new in 1967. There is no evidence found to indicate or even suggest that the mileage is inaccurate. Assuming that the mileage is accurate, this is one of the lowest mile 1953-1967 Corvettes known to exist. This examiner knows of only one other 1967 Corvette with lower mileage verified. This is a very highly uncommon and important finding.

Mileage indicated from new to examination date January 3, 2019.

All mileage accumulated by one original owner, Donald J. McNamara. Karin Bock, inherent owner, testimony claims McNamara the sole driver.

Unrestored Originality / Authenticity (Finish, Date Codes, Installations, Completeness, Configuration)

Exterior: There are no obviously refinished, restored, or repaired, replaced or altered components evident. This includes paint, fiberglass, glass, and hard trim. In other words, it appears that all exterior components are original to the subject vehicle with the exception of some paint blending on the cowl area and very slight overspray in the front and rear bumper areas. There is some remaining white light overspray on the interior door red trim as well as some red light overspray on the driver door surround. There is no evidence to conclude whether or not this was done in the paint repair area of the assembly plant (which was quite common). Therefore, since all exterior components were found to be unrestored original and never removed since original factory installation, the exterior by default is considered completely authentic. This is an uncommon and important finding.

Light overspray is consistent w/ assembly plant application variation

White overspray on pass front bumper bracket (Unknown source)

Factory original aluminum wheels included on window sticker. Vehicle was ordered with black wall tires with the intention of exchanging

them on day one with Dayton Blue Ribbon tires.

The black walls were discarded on delivery.

Factory dual side exhaust included on window sticker

Evidence on exhaust manifold nuts confirms original side pipes have never been removed.

Hood stripe dimensions and textures are consistent with known exemplars.

Hood stripe dimensions and textures are consistent with known exemplars.

Imperfect alignment is typical on factory stripe installations

Interior There are no obviously refinished, restored, repaired, or replaced components evident. This includes paint, fiberglass, carpets, seats, glass, dash components and hard trim. In other words, it appears that all interior components are original including all finishes whether paint, plating, or material fabrics. Therefore, since all interior components were found to be unrestored original, and never removed since original factory installation, the interior by default has to be considered completely authentic. This is an uncommon and important finding.

Original owner’s jacket has not been removed from seat since discovered in February, 2012 It is speculated that it has been there since or prior to the 1980’s but cannot be verified.

Engine Bay During the period between 1967 and circa 1980, the original owner changed the finishes on the numerous original and otherwise authentic components and exchanged others (e.g. valve covers). With the exception of these components, nearly all other components within the boundaries of the engine bay are original to the subject vehicle and have never been removed or refinished since original factory installation.

A full conservation program was initiated in 2017 to reverse the modifications done by the original owner. This decision was based on interviews conducted with the Smithsonian Institution, REVS Institute, Simeone Foundation, and numerous automotive historians. Alien components were replaced with donors and less than ten (10) reproduction parts. Alien finishes were removed to either expose original finishes or in some cases (intake manifold, water pump) blended. Chrome was removed and the original components were refinished appropriately.

During the 2017 conservation process, alien finishes on these original components were reversed to authentic finishes by conservators David Burroughs and Mike Ardito. • Clamps securing radiator to core support (orange to GM 1050104)• Clamps securing hoses to pass wheelhouse (orange to GM 1050104)• Alternator de-polished and re-installed• Alternator bolts and brackets de-chromed and re-plated zinc• Master cylinder cap de-chromed and re-plated gold-dichromate• Hood prop de-chromed and re-plated zinc• Hood latch pins de-chromed and re-plated zinc• Hood latches de-chromed, re-plated zinc, and factory overspray accurately reinstalled• Fan de-chromed and refinished with authentic GM 1050104 black paint• Carburetor partially re-plated with gold-dichromate to match manufacturer plating• Water pump and intake manifold required some finish removal and re-blending

Also,during the conservation process, the original owner’s non-authentic modifications were authentically reversed by Burroughs with the exception of a temporary service battery. • From original chrome air cleaner lid (with holes from added emblems) to donor 427 lid

Note: Original lid is archived with other removed and replaced components• From Offenhauser valve covers to 427 valve covers refinished with Chevrolet orange paint• From non-original oil cap to reproduction replacement• From non-original radiator cap to donor 1967 427 replacement• From non-original chrome dipstick to donor 1967 427 replacement• From non-original chrome voltage regulator cap to donor 1967replacement• From non-original battery to new non-original replacement battery (non-permanent)

Since there are a myriad of small components existing within the engine bay associated with the engine, electro/mechanical/cooling accessories, and chassis, the effect of the modifications was visually dramatic, however, the number of components actually affected was comparatively low. The modifications in finish were unfortunate, but did not substantially change the originality of those components except for their finishes. Further, less than one dozen modified components within the engine bay were replaced with donor or reproduction replacements.

#18237 after conservation and reversal process

Chassis There are no obviously refinished, restored, repaired, or replaced components evident. This includes paint, frame coating, crayon marks, suspension components or sub-components. In other words, it appears that all chassis components are original including all finishes whether paint, crayon, plating, or raw steel. Therefore, since all chassis components were found to be unrestored original and never removed since original factory installation, the chassis by default is considered completely authentic. This is a highly uncommon and highly important finding.

Driver side ground strap from frame to engine mount remains unrestored and in as-new condition. No witness marks from removal. Original residue of orange engine paint remains intact on exhaust manifold. Both are evidence of extremely low mileage and low vehicle use.

Original frame/suspension coatings and shim crayon in as-new condition

Original frame coating and shim crayon in as-new condition

Original shim tape in as-new condition

Original rear suspension components in as-new condition

Original (and extremely fragile) fuel tank stencil in as-new condition

Original threads of adhesive are evidence fuel tank never removed

Original frame rail stencil and crayon installed over original frame coating

(Stencil applied before production when frame was inverted.)

Photo reversed so stencil is right-reading

Extraordinary preservation of finishes in an area of usually high degradation.

Revelation of extraordinary detail of normally obliterated stencil numbers

Continuous Chain of Custody

Don McNamara garage May 20, 1967 – Feb. 12, 2012

Photographed by David Burroughs

Driveway of McNamara garage for 2012 transport to Illinois

for complete historic and photographic documentation

Mark Davis garage June 2012—April 2014

Joel Owens garage May 2014 – November 2018

Conservation at Prove It Lab April, 2017 – October, 2017

• Removed alien engine bay components and replaced with original/authentic • Alien engine/bay finishes (plating/paint) removed and returned to authentic • Removed and replaced brake fluid, engine oil, and fuel • Conservation process completed on brake calipers and fuel system • Inspected and prepared engine for start-up after 20+ years dormancy • Completed conservation and engine start on October 17, 2017 • Corvette #18237 moved under its own power on October 17, 2017 • Functionality (electro/mechanical) tests found no discrepancies • All work performed by Mike Ardito, David Burroughs, and Chuck Samuel • Conservation photo documentation by Mike Ardito and David Burroughs

Transfer from Joel Owens garage November 26, 2018

Per photos in this report, Martin and Karin Bock, owners who inherited this vehicle from Donald McNamara, testified that this vehicle was garaged in the same garage from May 20, 1967 until it was removed in my presence on February 12, 2012. From July 7, 2011 through January 3, 2019, I can attest to the locations of this vehicle during that time period. I have had personal associations with Mr. and Mrs. Bock as well all each subsequent owner through January 3, 2019. During my association with this vehicle since 2011, I can attest with few exceptions, not only the unbroken provenance of ownership but also the following chain of custody: Permanent Owner Locations Donald McNamara Garage May 1967 – February 12, 2012 In transit fo Bloomington IL Dr. Mark David garage June 2012 – April 2014 Barboursville, W.V Joel Owens garage May 2014—November 2018 Minneapolis, Mn

Temporary Custody for Displays, Inspections, or Conservation John Rettick garage February 14, 2012 – June 22, 2012

Bloomington, IL Bloomington Gold June 22, 2012

Great Hall Display St. Charles, IL

Greg Wyant Display Unknown period 2014

Summerville, Georgia Mecum Auction April 2014 Dallas, Texas Prove It Lab April 2017- October 2017 El Paso, IL Mecum Auction November 2018— January 11, 2019 Kissimmee, FL _________________________________ David Burroughs Date