Arizona

19 - 20 January 2012

Lot 266

1953 Chevrolet Corvette Roadster

To be auctioned on Friday, January 20, 2012

Sold for $445,500

  • Chassis no. E53F001005


150 bhp, 235.5 cu. in. “Blue Flame” OHV inline six-cylinder engine, three one-barrel Carter carburetors, Powerglide two-speed automatic transmission, independent front suspension with unequal-length A-arms and coil springs, live rear axle with semi-elliptic leaf springs, and four-wheel hydraulic drum brakes. Wheelbase: 102"



• The fifth Corvette built and one of the first three examples ever sold to the public

• One of 300 produced for 1953; unique early production features

• Accompanied by copies of original sales invoice, GM correspondence and more

• Painstakingly restored to NCRS Top Flight award-winning standards

• A fascinating document of Corvette’s earliest transition from show car to production



From the start, the Chevrolet Corvette was truly unique. Based on the EX-122 concept of

1952, the Corvette remains one of the few GM Motorama designs with their space age, show-car styling virtually unmodified for production. Its highly anticipated early-1953 introduction in the ballroom of New York’s Waldorf=Astoria drew over 300,000 spectators, and production commenced in Flint, Michigan on June 30, 1953.



While this beautifully presented, multiple award-winning first-year example is one of about 200 survivors out of total 1953 production of just 300 units, it is especially significant as experts strongly believe this to be one of the first three Corvettes ever sold to the public! Bearing serial number 5, it was purchased on July 16, 1953 from Wilmington, Delaware’s Diver Chevrolet by Crawford Greenewalt, the noted chemical engineer, DuPont Company President (1948 – 1962) and Chairman of the Board (1962 – 1967) as a gift for his wife, Margaretta DuPont Greenewalt. Interestingly, Serial Number 4 was sold to Mr. J. Spencer Weed, the head of the Grand Union grocery chain, and Corvette Number 6 was sold to Mr. H.B. DuPont.



According to an interview conducted during the 1980s, once Corvette Number 5 was assembled, GM Styling Chief Harley Earl drove it to a friend’s Ford dealership, and after that it made its way to the Ford Motor Company Engineering Department, well before many of Chevrolet’s own staffers saw the Corvette themselves. In mid-July 1953, Corvette Number 5 was assigned to Chevrolet’s Eastern Zone, and it was shown to select Philadelphia, Pennsylvania-area Chevrolet dealers before it was delivered to Diver Chevrolet in Delaware prior to its sale to the Greenewalts.



Three-time Indianapolis 500 champion driver Mauri Rose, who was then with Chevrolet Engineering, inspected Corvette 5 at Diver Chevrolet, as well as cars 4 and 6 at their respective dealers, to report on their build quality. Unfortunately, these early Corvettes were clearly “works in progress” with the production process and complex fiberglass body construction (from some 46 individual pieces) imposing a steep learning curve. As confirmed by Mr. Rose’s detailed four-page report on the cars, numerous “objectionable and in the writer’s opinion not commercially acceptable” deficiencies were found.

Clifford Diver, the son of Diver Chevrolet owner Frank W. Diver, echoed this during an interview conducted some years later. Interestingly, while a 10 percent discount was offered, the Greenewalts refused it and insisted on paying the full list price instead. Consequently, Diver Chevrolet added the amount of the discount back onto the invoice for the car.



The Greenewalts retained Corvette 5 until March 22, 1956, when they traded it in for a 1956 model. It passed through several owners until the late-1960s, when it was located in North Carolina in need of restoration. In about 1972, Ed Thiebaud, one of the first serious Corvette collectors and the founder of the Vintage Corvette Club, acquired the Corvette and moved it to Fresno, California, where he advertised it for sale as “One of the First Real McCoys” with a circa-1970 photograph, asking for “serious offers over $10,000.” In 1972 Randy Hickman purchased the Corvette, but its return to glory would have to wait until 1997, when John and Melanie Kocsis of Athens, Pennsylvania acquired Corvette 5. Over the next five years, they painstakingly researched and authentically restored the Corvette to its original condition.



Completed in 2003, in time for the Corvette’s 50th anniversary celebrations, the Corvette joined its sister car, Number 6, for the first time in 50 years at the 1953 Corvette Reunion during the Corvettes at Carlisle show, fittingly held on June 30—the exact date that Corvette production began. On July 16, 2003, 50 years to the day after it was first sold to the Greenewalts, Corvette Number 5 was judged at the Hershey, Pennsylvania NCRS National Convention. There, it achieved a score of 99.6% and Top Flight certification. In addition, the Corvette won the Ladies’ Choice award, and Mr. and Mrs. Kocsis received a specially etched trophy commemorating Number 5’s participation at the historic event. On June 27, 2004, the Corvette received Gold Certification from the National Corvette Certification Board.



Among its many interesting features, Number 5 is the last 1953 Corvette produced without an outside rear-view mirror, and it was one of the handful of early Corvettes fitted with a stainless-steel VIN tag, as opposed to the later aluminum version. This car was also built with a chrome speaker grille, and Corvettes 4, 5 and 6 were the only 1953 models sold to the public with basic chrome Chevrolet Bel Air hubcaps. The original frame for Corvette 5 is one of the 12 “pilot run” Corvette frames built, which were utilized for the Motorama cars, the engineering bucks and the first six production Corvettes. According to John and Melanie Kocsis, the frame for Corvette 5 is stamped #10 in two locations, the same as the number-stampings on the frame of Corvette Number 6.



As offered today from the current owner’s private collection, Corvette Number 5 retains an impressive, high-point presentation. Its document file includes copies of the original sales invoice from Diver Chevrolet to the Greenewalts, a copy of the invoice for their new 1956 Corvette showing the trade-in of the 1953 car, a copy of the internal GM memo from Mauri Rose and more. A fascinating artifact of the Corvette’s earliest days, it marks the quick transition of the Corvette from its GM Motorama show-stopping roots to a series-production car for public sale. It is one of the first three Corvettes ever sold, and as such, it ranks as one of the most important early Corvettes in existence today.

Please contact our exclusive automotive transportation partner, Reliable Carriers, for a shipping quote or any other information on the transport of this vehicle.

Alain Squindo


Detroit, Michigan

Alain Squindo joined RM Auctions in 2007, after graduating from Georgetown University in Washington, D.C., with a degree in History. R... read more

Alex Classick

aclassick@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Alex Classick joined RM Europe in 2011 as a car specialist, after graduating from Nottingham University with a degree in Business Mana... read more

Alexander Weaver

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+1 310 559 4575
California, USA

Alexander Weaver joined RM Auctions in 2011 as a car specialist, after graduating from Furman University in South Carolina. Born into ... read more

Annette Abaci

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+49 (0) 40 441 95 737
Germany

With post-secondary degrees in Economic Science and Mechanical Engineering, Annette Abaci initially worked part-time at Mercedes-Benz ... read more

Augustin Sabatié-Garat

asabatie-garat@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Augustin Sabatié-Garat joined RM Europe in 2012 as a senior car specialist, after more than a decade in the collector car hobby... read more

Dan Warrener

dwarrener@rmauctions.com

+1 519 352 4575
Ontario, Canada

Possessing a degree in Economics from Brandon University, Dan Warrener spent the initial stages of his career working around the globe... read more

Don Rose

drose@rmauctions.com

+1 617 513 0388
United States

Don Rose joined RM Auctions in 2006, after many years of professionally trading sports and classic cars, and after earning a reputatio... read more

Donnie Gould

dgould@rmauctions.com

+1 954 566 2209
Florida, USA

Donnie Gould joined the RM team in 2002 as a partner and Car Specialist after more than two decades in the vintage automobile auction ... read more

Gord Duff

gduff@rmauctions.com

+1 519 352 4575
Ontario, Canada

Gord joined RM Auctions in 1998, initially responsible for the transportation and logistics of the company’s auction and restora... read more

Ian Kelleher

ikelleher@rmauctions.com

+1 310 559 4575
New York, United States

Ian Kelleher began his automotive career immediately following his graduation from Oberlin College, with a B.A. in Politica... read more

Jack Boxstrom

jboxstrom@rmauctions.com

+1 818 703 2816
Ontario, Canada

Jack Boxstrom joined RM Auctions in late-1996 to assist with the recently acquired, and subsequently record-breaking, auction in Monte... read more

Max Girardo

mgirardo@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Max Girardo started his career in the vintage automobile industry in 1998, joining Brooks Auctioneers (now Bonhams) as a car specialis... read more

Mike Fairbairn

mfairbairn@rmauctions.com

+1 519 352 4575
Ontario, Canada

As one of the three founding partners of RM Auctions, Mike Fairbairn has a longstanding interest in the classic car industry. Graduati... read more

Peter Wallman

pwallman@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Peter Wallman joined RM Europe in 2007, following nearly two decades in the international advertising industry, read more

Rob Myers

+1 519 352 4575
Ontario, Canada

As chairman and founder of the RM Group of Companies, Rob Myers’s entire career has been devoted to the classic car industry. Ro... read more

Shelby Myers

smyers@rmauctions.com

+1 310 559 4575
California, USA

Shelby Myers literally grew up with the classic car industry infused into every aspect of his life. He had the unique opportunity to w... read more

Vinnie Mandzak

vmandzak@rmauctions.com

+1 310 559 4575
California, USA

Vinnie Mandzak joined RM Auctions’ California office in 2012 as a car specialist, following more than 30 years’ experience... read more