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Sample Typical Appraisal

Appraisal Report # 12345

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1968 Chevrolet El Camino

This report has been prepared for Xxx Yyyyyy :

A vehicle inspection and report preparation has been undertaken by:

Mr Smith S.V.A.I. XXXX YYYYY Drive

Calgary, Alberta XXX YYY

(403) XXX-XXXX

Canadian Personal Property Appraisers Group C.P.P.A.G Trained

A current member and director of the Specialty Vehicle Appraisal Institute S.V.A.I.

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Vehicle Specifications: Year: 1968 Make: Chevrolet Model: El Camino Body Style: 2 Door Truck V.I.N. # 134808BXXXXXX Odometer: 42,193 miles License # XXX YYY Policy #

Registered Owner: XXX YYY-XXXX XXX yyyyyyyyy ZZZZZZZ, Alberta General Comments: General Motors copied Ford’s lead and marketed the El Camino, which was part car with comfortable appointments and part truck with an open truck bed. Examples today are rare and make unique collector vehicles. Appraisal Summary: This truck has undergone some exterior reconditioning but remains very original. The engine runs fine. The vehicle does show some interior and exterior aging and wear but is overall in above average # 2 condition. Appraised ( Fair Market ) Value : $ 16,900.00_ Cdn., Date of inspection and effective date of the appraisal __May 3, 2009_ Report Number _12345_ Signed: Note: The appraised value may vary over time, especially if modifications are made to the vehicle. It is recommended that periodic updates to the appraised value be made to ensure that the estimated value noted above is an accurate reflection of current value. The appraised replacement value will probably differ from market value. Due diligence has been applied to make the assessment as accurate as possible using information presented to me at the time of the inspection. Value is determined by the use of comparables and value guides, review of readily available sale / auction results in North America and based on my experience in local sales and auctions of similar vehicles. Unless otherwise stated the value shown is fair market value for insurance purposes to be applied on collector vehicle policies having a 19A (appraised value) endorsement. The owner should verify that the policy includes this endorsement in the contract.

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Sample Typical Appraisal General Description and Condition: 1968 introduced a longer El Camino, based on the Chevelle station wagon / 4-door sedan wheelbase. A new, high performance Super Sport 396 version was launched this year. 1969 models were very similar, but 1970 saw the availability of a new big block which actually displaced 402 cubic inches, (although all emblems read 396). Chevrolet's largest and most-powerful engine of the time was also put into a select few El Caminos. The LS6 454 engine, rated at 450 hp. 1969 also marked the first time that the Chevrolet 350 V-8 was used in an El Camino. The 1971 model saw reduced power and performance, along with the rest of Chevrolet's line, as lower-octane unleaded fuel was mandated, and emissions controls began to be felt. Single headlights replaced double for 1971, and the grille came now to a point. Little changed but still lower power outputs were marketed for 1972. A rebadged El Camino called the GMC Sprint debuted in 1971. This 1968 El Camino has had some interior and exterior reconditioning and the engine appears to have been rebuilt. Some interior components show some age and wear but the truck remains in above average # 2 condition overall. (For a description of the various condition ratings please refer to the end of this report.) Although the truck is in the condition expected of a low mileage vehicle, the ongoing mechanical and exterior / interior reconditioning of the vehicle suggests that the odometer indication of 42,193 miles reflects the fact that the odometer has “turned over” once and the actual distance the vehicle has seen is 142,193 miles. Body and Trim and Glass: The body panels on this truck are straight and free of accident damage or significant corrosion. There were some paint bubbles on the trailing edges of both front fenders. All panels were properly aligned with reasonable and uniform panel gaps and no pinch points. There was some evidence of prior body work and minor body filler on the roof (where the filler had cracked) and possibly on the lower rocker panels. All trim and brightwork was intact and in very good condition with only minor fading due to age. The front and rear bumpers were straight and free of accident damage or scrapes and the chrome finish was excellent to very good as the front bumper appeared to be original with some fading due to age while the rear bumper appeared to be rechromed or new. The owner indicated that all lights are operational and there were no cracks or scratches in the lens of the headlights or tail lights. There were minor scratches in the side glass from raising and lowering the windows. The windows cranked up and down easily without binding. The rear glass and windshield was free of cracks or chips and the front windshield did not show any minor pitting from road grit. The truck bed area was clean with the floor showing some scratches and paint chips from light hauling. A vinyl bed cover was in place to protect the box area. The truck bed floor was free of corrosion. The hood and tailgate as well as both doors opened and closed easily without binding or sagging. The rubber door seals looked new and showed no aging and wear. Paint: The truck has been repainted a metallic red or bronze colour. Quality of the prep work is good with no sanding marks but there was some minor overspray on trim or rubber seals. The colour has good shine and lustre and the finish has minimal dust or orange peel in the

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http://en.wikipedia.org/wiki/Station_wagon

http://en.wikipedia.org/wiki/Sedan

http://en.wikipedia.org/wiki/GMC_Sprint

Sample Typical Appraisal surface. It has accumulated some minor paint chips and scratches, some of which have been touched up with a slightly different shade of red. Wheels and Tires: This El Camino had new rally style rims on all four corners, with trim rings and hub caps. These are in very good condition with no corrosion or curb damage and minimal aging. The wheels hold Widetrack Radial S/R radials that are P235 60R15 in size. These tires are new and show no significant wear or unusual wear patterns that might indicate a prior maintenance or mechanical problem. There was no spare in the truck bed. Interior and Instruments: This intermediate sized truck seats two or three with front bucket seats separated by a transmission tunnel and no rear bench seat. Door sill plates are original and show typical minor scuffing and fading. The kick panels show no cracks in the plastic. The carpet has rubber throw mats to protect the floor covering, which shows minimal aging or wear. The door panels appear original and are free of cracks or holes in the vinyl cover or arm rests, but the Malibu insignia on the driver’s door was missing. Front bucket seats have been refinished and show no fading, cracks, tears or split seams in the cloth. The headliner is in very good condition with no sags, holes or tears in the fabric but the courtesy light lens was missing. There was some noticeable sun / heat damage to the dash pad and some aging and cracks were apparent. The instrument cluster and steering column are original and have not been modified. The steering wheel is a small diameter Grant GT replacement and free of wear or cracks in the rim. The truck is nicely equipped with driver’s convenience options including dual chromed side view mirrors, a day/night rear view mirror, heater / defroster, wipers / washer, ashtray and lighter with courtesy lights. The instrument cluster contains the factory installed speedometer and fuel level gauge, with warning lights. Under the dash panel, an air pressure gauge monitored the pressure in the rear air suspension system. The truck also has power steering. Audio: The vehicle has the original audio system mounted in the dash panel. No other aftermarket stereo enhancements were found at the time of the inspection. Engine and Power Train: The 327 cubic inch GM V8 engine appeared to be original with some appearance enhancements in terms of chromed valve covers and an open style air breather with a chromed lid. There was some accumulated grime and rust on a the lower block components, and some paint chips but the engine looked well cared for with new looking performance plug wires and a wiring harness that appeared unmolested. In addition belts and hoses showed minimal aging or wear. It started easily and ran smoothly with no unusual noise or smoke that might indicate a hidden maintenance or mechanical problem. The induction system consisted of the original Quadrajet 4v carburetor on a cast iron intake manifold. No performance upgrades were noted. The cooling system was stock with a belt driven fan. There were one or two drops of oil on the underside pans but no indication of any significant fluid leaks. Power is fed through a stock Saginaw four speed manual transmission to the original rear end.

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Sample Typical Appraisal Suspension/Brakes: The vehicle retains its original configuration for suspension and four wheel drum braking systems. The suspension was firm with no sagging. No modifications were found aside from the fact that the rear shocks were air pressure operated to control ride height and other components appeared to be reconditioned as needed. These critical systems appear to be in good working condition with no apparent problems. This summary is not a safety inspection and this report is not a qualification of the mechanical integrity of the components, but is only reporting on the visual state of what was present. Frame/Exhaust: The frame and undercarriage have been cleaned and not undercoated for protection. There is no indication of any road hazard damage on underside panels but there is some general surface rust in areas where the paint or undercoat is thin or has become loose. One undercarriage picture seems to show that a repair patch panel has been welded in place. The exhaust system is unmodified with cast iron manifolds and dual downpipes and performance mufflers. There is no indication of any leaks in the system and when the engine was idling the exhaust sound was normal.

The odometer reading is 42,193 miles. It is possible the odometer has “turned over” once and the actual mileage on the chassis is higher.

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Sample Typical Appraisal Decoding the VIN number and Body Tag Numbers: The VIN number 134808BXXXXXX may be decoded as follows 1 = Chevrolet Division of General Motors 34 = Chevrolet El Camino body series V8 80 = Two Door pickup sedan 8 = 1968 Model Year B = Baltimore MD assembly plant code XXXXXX = Sequential Production Number

Determination of approximate market value and Insurance replacement value.

Vehicle Type 1968 Chevrolet El Camino Above

Average Condition

Comments A clean truck showing some age and wear.

Collector Car Market Review 19,665 17,100 plus 15 % for 327 V8 and 4 speed Hagerty CTM Guide 20,200 NADA Guide 18,500 Old Car Guide 17,710 16,100 – plus 10 % for 4 speed Canadian web sales $ 20,000 – 1968 Chevrolet El Camino rebuilt 454 V8 Auto, recently

restored, almost finished, (780) 489-7742 $ 20,000 – 1968 Chevrolet El Camino 307 V8 Auto, new15 “ wheels & tires, new paint tonneau cover Edmonton AB (780) 984-1485

$ 18,000 – 1968 Chevrolet El Camino 327 - 4 Speed, very very good driver, new interior, original paint Saskatoon Sask (306) 649-4966

$ 16,000 – 1968 Chevrolet El Camino, 327 Auto, very good condition throughout Summerside PEI (902) 888-2678

Average of above $ 18,400 Approx Cdn Market Value $$ $ 18,400.00 This is the approximate fair market value for an above average

condition vehicle in essentially the stock or factory configuration but showing some minor age and wear. The estimation is based on available reference guides and where possible on local sale/auction activity.

Other Factors Considered Rarity - Total El Camino production in 1968 = 41,791 trucks Originality - Some modifications from original Reworked / Replacement Parts that would add to or take away from the market value expected for an “above average” condition vehicle.

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(500) (1,000)

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Powertrain Upgrades: Engine appears in above average condition Brakes & Suspension: Appear to be in above average condition Interior: Dash cracked otherwise in above average condition Bodywork: Some paint bubbles on front fenders, undercarriage rust Paint: Minimal aging – in above average condition

Fair market Value $ 16,900.00 This is the appraised value for insurance purposes Note that many factors are considered to determine replacement value. Some details may not be presented in this report but a copy of the relevant information is kept in my files and is available on request. The fair market value may differ from the invoiced cost of the vehicle, especially if it has been extensively modified or restored.

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The engine may be a replacement 327 cid GM V8. It has been rebuilt to factory specifications and has no modifications or performance upgrades. The engine started easily and ran smoothly with no unusual noise or smoke that might indicate a hidden mechanical or maintenance problem.

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The front and rear bumpers are straight and free of accident damage or corrosion. The chrome finish on the rear bumper is excellent and appears to have been rechromed. Front and rear lights are free of cracks or chips. The owner indicates that all lights are operational. The vinyl tonneau cover shows no aging or wear.

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The side panels are free of corrosion and accident damage. The paint is very good with a good shine present. All trim appears to be intact and in very good condition although the rocker trim might benefit from a good polish. The glass is also very good with no significant flaws.

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Exterior panel fit is very good with uniform gaps and no pinch points. Doors open and close easily, with no sagging or binding. The side windows crank up and down easily without binding. Door panels are free of holes or tears in the vinyl.

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The front seats are in excellent condition and show very little aging or wear. Similarly, the interior overall is in very good condition, with steering wheel, and instrument cluster showing minimal aging or wear. The dash was cracked however due sun or heat damage.

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With the pattern of rust evident on the underside, it appears as though a portion of the original floor pan has been removed and replaced with a new unpainted panel.

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The trunk area is clean and free of corrosion. The floor is original and shows some aging and wear with numerous paint chips. The tail gate is in very good condition as is the vinyl tonneau cover.

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Wheels show no corrosion or curb damage and are in very good condition.

There are cracks in the dash

pad.

The shifter is mounted on the floor and it appears that this

is an original four speed truck.

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Sample Typical Appraisal Terms and Conditions of Appraisal Report

Opinions and conclusions made in this report reflect my professional judgment based on facts and conditions available to me during the time of the inspection of the vehicle. Due diligence has been applied to gather the facts and establish the condition of the vehicle. This includes all information requested and provided to me by the vehicle owner at the time of the inspection. The appraised value does not include applicable taxes or duties. The intended use of this report is limited for insurance valuation only. The report must be used in its entirety only, and is not intended for any other use or distribution beyond the registered owner and his / her insurer.

Certification of this report

All facts and data set forth are true and accurate to the best of the appraiser’s knowledge and belief. The author has no present or prospective interest in the vehicle that is the subject of this report and the author has no personal interest or bias with respect to either the vehicle or the parties involved. I have made a personal inspection of the subject vehicle and requested from my client that all pertinent information relating to the vehicle and its history be passed on to me prior to preparation of the report. All information provided was considered in the report preparation. I verify that the digital images presented accurately reflect the condition of the vehicle at the time of the appraisal. My compensation is not contingent upon the reporting of a specific predetermined value, or direction of value, or any portion of estimated value. Value indicated does not include applicable taxes or duties. XXX YYYYYYYYY is an accredited member in good standing of the Specialty Vehicles Appraisal Institute of Alberta, and this report has been prepared in compliance with their standards, requirements and practices. This report may be subject to review by either or both of these groups or their duly appointed committees to ensure that these standards are met.

Signed and Dated

__________________________________________________

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Condition Rating The 1 to 5 grading scale for collector vehicles was developed by Krause Publications and has been in use in the industry for some time. These number coded categories help to maintain consistency of descriptions and assessments. 1 = Excellent, 2 = Very Good, 3 = Good, 4 = Fair, 5 = Restorable

1) Excellent: Restored to current professional standards of quality in every area; or original with all components operating and appearing as new. This vehicle is true show car quality and is never driven and transported in closed trailer. Flaws, if any, are few, minor and readily repaired.

2) Very Good: Well Restored; or combination of superior restoration and excellent original condition; or extremely well maintained original showing minimal wear. This vehicle would only be driven infrequently in good weather. Also called above average condition.

3) Good: Completely operable original or older restoration showing some wear or amateur workmanship. Also a combination of well done restoration and good operable components; or partly restored car with valuable NOS parts. Vehicle would likely be driven frequently for enjoyment. Also called Average condition.

4) Fair: Addressable vehicle needing no or only minor work to be functional; or a deteriorated restoration; or a very poor amateur restoration. All components may need restoration to be Excellent or above average, but mostly usable in “as is” condition.

5) Restorable: Needs complete restoration of body chassis and interior. Not drivable, but is not weathered, wrecked or stripped to the point of being useful only for parts salvage.

Rating for Rust or Corrosion Deterioration:

Serious: Frame and sub frame or floor pans show surface rust and perforation to the extent that some structural weakening has occurred. Body shows perforations and holes around prone areas or floor pans.

Moderate: Frame and sub frame or floor pans show extensive surface rust but no perforation or structural weakness. There may be a few small holes in prone areas such as lower door panels and around wheel wells.

Light: Frame and sub frame show light surface rust in some areas. Body is intact with no holes but possibly some bubbling of the paint in prone areas.

No Rust: There is no rust anywhere on frame floor panels or body panels.

Valuation Definitions

Fair Market Value: The highest price, expressed in terms of money, that this vehicle will bring in an open and unrestricted market between a buyer and seller who are informed, knowledgeable, and prudent and who are acting independently of each other, neither being under any compulsion to buy or sell. Collector Car Insurance policies are based on fair market value and it becomes the “Agreed Value” between the insurer and insured for an insurance contract with a 19A endorsement for collector vehicles and motorcycles. “Replacement Value” may be the same as fair market value but is usually higher if modifications or custom effects have been made to the vehicle. These changes may or may not always be reflected in market values, but these same costs would be required to return any replacement vehicle to the same condition or state as the original vehicle. It usually used in property value insurance and not for collector vehicles.

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