Description: As a result of the Great Depression, by 1931 Ford sales had dropped by more than half while Chevrolet sales had slipped by a mere 8% and for those that could afford to buy a new car they wanted the most bang for their buck, which is what they found in a new Chevrolet of the era. This 1931 AE-3 Independence 5-passenger Phaeton was not the most expensive Chevrolet offered that year, but it is decidedly the rarest, with only 852 produced out of more than 600,000 Chevrolets built in 1931. Powered by Chevrolet's newest engine, the "Stovebolt Six", or "cast-iron wonder" as it was more affectionately known, the introduction of the new inline-six coincided with the advent of the Great Depression, and as sales literature proclaimed, it was "a Six in the price range of a four" which resonated with buyers who were looking to get the most for their money during that time. Quieter, smoother, and more powerful than the four-cylinder engines offered by Ford, the new inline-six from Chevrolet underwent multiple changes in 1931 which resulted in an even smoother, more powerful engine. This Phaeton is powered by its original inline-six cylinder engine and is mated to a three-speed manual transmission which shifts well with no grinds or shudder. Under the hood, the engine bay is neat and clean, and the freshened up 194 cubic inch engine retains period-correct components such as its Delco Remy starter, distributor, and generator, as well as its Carter RJH-08 updraft carburetor, along with original intake and exhaust manifolds. The Phaeton has been preserved with all stock factory steel and is rust free and very straight. The beige and tan exterior of the Phaeton has been restored at some point in the past and shows very well, especially for a car of this age, and although there are a few minor imperfections the paint retains a wonderful shine. The Phaeton rides on original wire wheels that have been painted orange and provide a lovely contrast with the two-tone beige and tan exterior and match the orange accent stripes on the body. It also features dual matching spare wheels mounted on either side, and all the wheels are mounted to Firestone 5.50-18 wide whitewall tires. Other exterior features include a nickel plated original grille, original Chevrolet Twilite headlamps, original style spare tire mounted rearview mirrors, and a set of restored 1931 California "Year of Make" plates which are currently registered to the car. The tan convertible top is in excellent shape with no tears or rips and the original glass is in great shape, as are the running boards, which have been restored with new rubber but feature original Chevrolet-script steps. The interior of the Phaeton has been restored in its original style with tan Naugahyde upholstery and complements the car's exterior perfectly, while the dash features a set of original and working gauges and an original steering wheel which was restored at one point but now shows a few minor cracks. Other features included on the car include a cargo trunk mounted in the rear, a chrome crankstart cover, and driver and passenger windwings which have been etched with roses as the car was once a participant in the Pasadena Rose Parade. Moreover, the car itself has lived its entire life in the greater Los Angeles era, quite a feat considering its age. Overall this 1931 Chevrolet Independence Phaeton is a great looking and running car and although it is not a concours-level car, it is a great example of an older restoration that still shows extremely well and can be enjoyed without worry. As such a rare model with only 852 built and many less known survivors, it will continue to appreciate in value with only minor upkeep as all the hard work has already been done and done right.