This lot is closed for bidding. Bidding ended on 3/29/2020
The controversial DeLorean Motor Company (DMC) would officially be founded 44 years ago - on October 24th 1975. John DeLorean would leave GM as a well known hot shot in the automobile industry with skills including being a capable engineer, business innovator, and tag of the youngest person to become a General Motors executive. This along with his connections within the industry allowed him to branch off on his own, but he needed capital. How does one get capital for a business, well loans of course! Originally naming his vehicle the DMC - 12, DeLorean's idea would need an evaluation, which three days after founding his company he would make a $1,000,000 self evaluation of interest. This offered October 27th, 1975 document would serve as the beginning for what is now more than a movie prop or simple automobile; it’s a long, winged, strange legacy wrapped in stainless steel. Addressed to 100 West Long Lake Road, Bloomfield Hills, Michigan - a newly leased space, DeLorean would seek 1 million common shares at 1 dollar per share for the development in part: "including, but not limited to preliminary engineering definition of product; exterior styling model; interior styling model; aerodynamic wind tunnel testing and development; chassis engineering; body engineering; computer analysis of structure and handling; engine design and development with turbo charger, optimizer, MSD ignition, sonic carburetor; design, development, tooling ect.." In February 1982, production of the DMC-12 would cease as the company in essence declares bankruptcy and DeLorean himself runs into some interesting legal trouble to say the least. While the end wasn't as clean as the beginning with this neat, well written one page typed document, the DMC-12 will stand the test of time, and maybe travel back to it - into the future! Overall in fine condition with minor handling wear to the edges and discoloration. While this item may seem more inline with automotive collectors, due to the culturally significance of the DeLorean Motor Company and its impact on popular culture, this offering should not be ignored by historical collectors. Authenticated by James Spence Authentication (JSA) with a full letter of authenticity.