Pre-Purchase Corvette Inspections

There is an ever increasing amount of collector car fraud in the market place today. This is represented by the following:

• Reproduction paperwork including Tank Stickers, Window stickers and Dealer Invoices.

These “documents” are being advertised as a “novelty” item by online sellers. What happens to that “novelty” item after the car is sold multiple times? We can tell you. It suddenly crosses the line and becomes “original” and then the price of the car doubles. And the next buyer becomes the latest fraud victim. Don’t let that person be you!

These fake production tags have gone through several iterations over the last few years. The fraudsters and criminals are getting better at it every day. Fake VIN tags will also create a legal liability issue for the unsuspecting buyer.

Corvettes with engines that are not original to the car are becoming more prevalent. This greatly affects market value.

We know of cars that were re-created around an original VIN tag or around an original engine where the original car was previously destroyed. Sellers are very skilled at telling you what you want to hear with the sole objective of separating you from your cash. 

The justification we hear from some do-it-yourself buyers to spend tens of thousands of dollars working with a seller they have never met, on a vehicle half way across the country that they know next to nothing about is::

• "Why pay for someone to inspect the car when the seller seems so nice?”

• “I will go look it over myself. I know about cars. How hard can it be?”

• “I did my “research” online"(There is no fraud on the internet, right?).

• “XX is my favorite color.”

• "Your prices are too high. Billy Bob down the street knows a little about cars. He can do it for less money. And since he just got out of prison for forgery of documents and theft of services, he has lots of free time on his hands and needs the cash."

• "It reminds me of a car I once had or always wanted.”

• And, best of all, “my spouse likes it.”

And on it goes…then two years later I get the call from the attorney…”We have a problem.” Shocking, although entirely predicable and avoidable. And at this stage you have a real financial problem.

These can run on for several pages. Some examples:

It is the customer’s sole responsibility to verify the existence and condition of any equipment listed and to thoroughly inspect the vehicle personally or via a third party inspection company. All vehicles are sold “as is” and without warranty. As always, we welcome independent inspections and or independent appraisers prior to the sale. In referencing the phrase “Numbers Matching”, the seller is providing information provided to us and/or our opinion about the engine and does not refer to any other part on the car. We CANNOT guarantee the authenticity of any vehicle. Any descriptions or representations are for identifications purposes only and are not to be constructed as a warranty of any type.

This is typically followed by some sort of hold harmless language, such as:

You agree to indemnify, defend, and hold harmless Dealer ABC, its officers, directors, employees, agents, licensors and suppliers from and against all losses, expenses, damages and costs, including reasonable attorneys’ fees, resulting from any violation of these terms and conditions.

The use of "as-is" language does not allow the seller to commit fraud (where the seller KNOWS they are not telling the truth as opposed to simple negligence). Nevertheless, the above should concern you. Ask yourself, “Am I absolutely confident I can verify everything on my own?” If so, terrific. BUT, if not, we should be talking. Because otherwise, you are on your own, and it is the wild west of fraud, misrepresentation and deception out there. As Ronald Reagan once said "Trust, but verify."