International Vehicle Appraisers Network

VEHICLE APPRAISAL

Jeffrey E. Locke900 Taft Road

(757) 421-9028Chesapeake, VA23322

FAX: (757) 421-4165Email:

On July 11, 2009I personally visually inspected and evaluated the vehicle described below for the purpose of providing an estimation of the vehicle's cash/fair market value today. I inspected the vehicle's exterior, interior, chassis, and engine compartment. A mechanical evaluation was conducted where possible. The evaluation is based upon authenticity, preservation/ restoration, maintenance and/or replacement costs.

Vehicle Make & Year:1966 Ford Mustang

VIN: 6F07C339920Body Style: 2 door coupe

Color:Crystal Blue Fire MistInterior (color/material): Two-tone Blue vinyl

Vehicle Inspected at: Owners home

Owner:Sarah FoxPhone: (757) 898-3436Email:

Address: (Edited out for posting on web)

Special Features

Mileage: 96,271 (believed to be original)

289 cu in V-8 engine (rebuilt by previous owner). Edelbrock intake manifold with Edelbrock 600 cfm 4-bbl carb. Cyclone exhaust headers. PS. Power brakes (added). C-4 automatic transmission. Aftermarket air conditioning by “Vintage Air”. Crager “Street Styles” wheels. Kenwood am/fm/cassette stereo with Optimus Subwoofer, JVC speakers in rear package shelf, Optimus front speakers & equalizer, Alpine power amplifier. Dual mirrors.

Comments

Engine/Engine Compartment: (Overall Condition Grade 2-) Very clean and detailed. Ford Motorsports dress –up kit. Aluminum valve covers. Woven hose covers.

Chassis: (Overall Condition Grade 3) Typical of a driven vehicle. No visible rust. New exhaust system. Traction Masters. Excellent Crager wheels with Ford center caps. Fine front & rear bumpers and grill. Four wheel drum brakes (aftermarket power booster).

Interior: (Overall Condition Grade3-) Original interior in good overall condition. Driver’s bucket seat has 2 significant seam tears on cushion.Steering wheel has cracks. Rear window defogger (aftermarket). Trunk very good with mat and spare tire cover.

Exterior: (Overall Condition Grade 2-) Body very straight and rust free. Paint very good with a few parking lot chips. Yellow/red/orange “motion stripes”. New RHS taillight bezel. Other chrome and stainless steel trim in good condition.

(Appraisal of Sarah Fox’s Ford Mustang …continued)
Summary/Comments

Very good combination of original car with rebuilt engine and repaint. Significant add-ons include: power brakes, Vintage AC, stereo. Current inspection sticker.

Overall Condition Grade #3

(Condition code: #1 Excellent, #2 Fine, #3 Very Good, #4 Good/Fair, #5 Poor/Restorable, #6 Parts Car)

After careful evaluation of this vehicle, based on my expertise and experience (and after consulting Old Cars Price Guide, NADA, Collector Car Auction Results, The Production Figure Book for U.S. Cars, the Internet, reviewing the International Vehicle Appraisers Network database, reviewing comparables, etc. and after consulting with other Professional Appraisers, museums, and automotive experts, etc., when necessary, I appraise (estimate) this vehicle as having a fair market value of $14,000.

I hereby state that I have no financial interest, ownership, or employment in/with any firm engaged in the purchase, sale, insurance or transport of motorized vehicles nor in any firm engaged in the repair or restoration of motorized vehicles. I further state that I have received no compensation for this appraisal, from any source, other than my fee of $125. Therefore I have no actual or potential conflict of interest in providing this appraisal.

Signed ______Jeffrey E. Locke

CREDENTIALS

1)Senior Certified Appraiser in the International Vehicle Appraisers Network (nationwide association). Founder of this organization (2001) and Executive Director.

2)Providing Professional Appraisals of automobiles, trucks, motorcycles, and Automobilia, etc. since 1989. Expert on vehicle valuation, Diminished Value, Lemon Law, and fraud. Appraisals accepted by every insurance company as well as banks, credit unions, IRS, and Courts of Law (Expert Witness), etc.

3)Senior Master Judge for the Antique Automobile Club of America (AACA) #101 with 135 AACA Judging Credits. Chief Judge at AACA National Meets in 1996,1998, 1999, 2002, 2005 and 2006. Taught AACA National and Regional Judging Schools. Instructor of Continuing Judges’ Education (CJE) since 2002. Certified Team Captain.

4)Appointed Chief Judge for the 2010 AACA Grand National Meet (75th anniversary of the AACA)

5)Classic Car Club of America National Judge (CCCA Grand Classics).

6)National Meet Judging Team Captain for the Lincoln Owners Club.

7)Formerly a Member of the Classic Car Club of America National Board of Directors.

8)My Appraisals are accepted by the Antique Automobile Club of America’s NationalMuseum, Transportation Museum of Virginia, American Truck Historical Society, America on Wheels, BMWNationalMuseum, etc.

9)My Appraisals of vehicles and Automobilia along with the proper IRS forms have been accepted by the IRS for donations to museums and other charitable organizations; providing tax deductible contributions.

10)Served as Curator and General Manager of the AutomobileMuseum of Hampton Roads 1992-93. Elected to the Board of Directors and led museum to “non-profit” status.

11)Member of the Automobile Advisory Panel to the TransportationMuseum of Virginia.

12)Member of the Advisory Panel to NADA Guides (National Automobile Dealers Association).

13)Published nationally (Old Cars Price Guide, “Old Cars Weekly” newspaper, etc) and locally as an expert on collector vehicle values.

14)Former Race Car Driver and Time-Speed-Distance Rally Navigator. “Great American Race” veteran.

15)Former Factory Sales Engineer and Trainer for automotive collision repair equipment, MIG welders, and universal measuring systems for the Blackhawk Division of Applied Power, Inc. and Car-O-Liner. Taught collision repair, MIG welding, and body work.Metallurgical Engineering Education and experience.

16)Member of the AACA Speakers Bureau. Guest Speaker on Insurance and Appraisals before many car clubs and other organizations. Guest Speaker on Classic Cars. Guest Speaker on “Diminished Value” for the Hampton Roads Claims Adjusters Assoc, Peninsula Claims Adjusters Assoc., and Hampton Roads Auto Body Assoc.

17)Moderator/Presenter of “Antique Automobile Appraisals” seminar at the Annual Meeting of the AACA each year since 1999 (created this seminar at the request of AACA). Moderator of “Classic Car” seminar since 2002.

18)Consultant of vehicle authenticity for film, TV, etc production firms.

19)Owner/Restorer of several AACA National Award winning vehicles.