Record-Setting $3.85 Million Chevrolet Corvette Up For Auction Again
Will the third time be the charm for this unique car?
A 1967 Chevrolet Corvette that was sold at auction for $3.85 million in 2014 to set a record for production Corvettes will be crossing the block again in May.
The coupe is one of just 28 Corvettes built in 1967 that were specified with the high performance L88 option and the only one painted Rally Red.
The L88 option was essentially a thinly veiled factory racing package that included a 427-cubic-inch V8, performance brakes, a track-tuned suspension, a Muncie four-speed manual transmission and a Positraction rear end.
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The V8 was officially rated at 430 hp, but independent tests found that it really cranked out more than 500 hp, which made it the world’s most powerful production car in the era.
This car was modified and used for drag racing early in its life, but has been fully restored to its original condition. However, while the engine is correct, it is not the one that it left the factory with.
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Chevrolet went on to build just 216 L88 Corvettes through 1969, but the 1967s are the rarest and most valuable. This one was most recently offered for auction in January and received a high bid of $2.5 million that failed to meet its reserve price, which was a drop from a $2.7 million bid placed on it when it was up for auction a year earlier.
The Corvette will be on the block at the Mecum Auctions Indy event on May 17.