Most Expensive Chevy Corvette Ever Sold At Auction

• The 1967 L88 Corvette sold for an impressive 3.85 million dollars in 2014, breaking records as one of the most expensive Corvettes ever purchased.
• This rare Corvette earned awards for its meticulous restoration, featuring the iconic L88 V-8 engine that only 20 models were equipped with.
• The 1967 L88 Corvette stood out with its exceptional power and engineering, rivaling contemporary race cars with an estimated 540 to 580 horsepower.

In the world of performance cars, there are few that evoke the awe or passion that the Chevrolet Corvette does. Revered for its iconic design, raw power, and uncompromising performance, the Corvette has long been a symbol of American automotive excellence. For generations, Chevrolet has pushed the bounds of what is possible through their Corvette platform, with the future resting on mid-engine platforms.

One particular Corvette stands out for being a collector’s dream. The 1967 L88 Corvette is one of the rarest sports cars on the planet and would easily crown any Corvette enthusiast collection. Back in 2014, one example broke records by being the most expensive Corvette ever purchased, fetching a price of 3.85 million dollars.

The 1967 L88 is deeply loved for many reasons, its rarity is only the tip of the iceberg. This incredible feat of engineering is a no-holds-barred race car that brought the thrill of competition to the masses. We take a dive into the L88 and examine how it became the most valuable Corvette to ever exist.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Barret-Jackson, the National Corvette Restorers Society, and Corvette Mike.

Red 1967 Chevrolet Corvette L88

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This 1967 L88 Corvette Sold For A Whopping 3.85 Million Dollars

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There are few cars out there that are capable of fetching multiple millions at auction and Corvettes fitted with the legendary L88 engine are definitely up there. Even better are C2 Corvettes from 1967. Hence why this brilliant example of automotive history sold for a whopping 3.85 million dollars back in 2014 through Barret-Jackson.

An Award Winning Corvette

The rarity of the Corvette wasn’t the only thing that helped it earn its massive price tag. This example had been restored so meticulously that it earned several awards for its attention to detail. Key among these awards is the National Corvette Restorers Society Top Flight award.

To achieve a Top Flight award, you have to go through a rigorous judging process where your car will be given points based on its originality. Your car has to achieve a 94 percent on the National Corvette Restorers Society originality scorecard to be considered. The 1967 Corvette that sold for millions was judged to be in such immaculate condition that it achieved this award.

Not The Only 1967 L88 On The List

On the list of the top 10 most expensive corvettes ever sold, this isn’t the only 1967 Corvette. This example actually dethroned another 1967 L88 Corvette from the top spot, beating its value by around 400,000 dollars. This goes to show just how beloved these collector cars are.

Red four-door Corvette

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Only 20 L88 Stingrays Were Ever Made In ’67 And Fewer Have Survived

A big part of the appeal of these 1967 Corvettes is their rarity. There were so few cars equipped with the L88 that any of them in any configuration could easily fetch a ludicrous price at auction. However, this specific Corvette has a few caveats to it that help bump the price up to that 3.85 million dollar mark.

A Brief History Of The C2 L88 Corvette

The C2 Corvette was a record-breaking car for Chevrolet in terms of sales numbers. Its incredible popularity had spread to the mainstream and everyone wanted one of the beautiful sports cars. 1967 was the final year of production for the C2 Corvette and the next year would bring about a whole new generation.

In 1967, Chevrolet included what is considered to be one of the most rarest and iconic engine options ever, the L88 V-8. While this was an incredibly exciting engine, Chevrolet under-reported its power, leaving people to choose the tri-power V-8. Buyers were also anticipating the new Corvette. On top of all this, the L88 would set buyers back another $1,500 over the $4,353 price. This all meant that when all was said and done, Chevrolet only sold 20 1967 Corvettes fitted with the L88.

Why This Corvette Is So Special

The Corvette that sold for the incredible price tag in 2014 took the rarity a step further in a couple of different ways. Convertibles were the much more popular choice, which meant coupes like this example were even rarer. As well as this, this multi-million dollar Corvette is also the only L88 example to leave the factory in 1967 with red paint.

Black Convertible 1970 Chevy Chevelle SS Grille Close Up

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The 1967 L88 Was The Most Powerful Corvette Up Until 2009

1967 Chevrolet Corvette C2 L88 engine

The 1967 L88 Corvette is not only special due to its rarity. Chevrolet spent a great deal of time perfecting the L88 engine and when kitted out with all the required extras that came with the 1967 L88, it was a pure racing machine that made no compromises.

L88 Corvette Performance

Engine

L-88 427 CI Naturally Aspirated V-8

Transmission

4-Speed Manual

Horsepower

430 hp

Torque

450 lb-ft

Driveline

RWD

(Specifications sourced from General Motors)

While the official General Motors specs have the L88 V-8 outputting a cool 430 horsepower, which is already an impressive number, the actual power of the L88 is thought to be under-reported it. Its actual output is estimated to at least make 100 horsepower, if not more which puts it in the same league as purebred race cars.

The L88 was fitted with tons of racing-inspired parts. It had lightweight heads, 12.5:1 compression, a four-barrel Holley carburetor, along with tons of other premium equipment. In terms of its motor and its overall engineering, the L88 Corvette was the closest thing that you could get to a production race car from Chevrolet.

Unfortunately, the 1967 Corvette that sold for its massive price tag didn’t actually house the original L88 engine but it is pretty close.

Comparing The 1967 Corvette To Modern Corvettes

Red 1967 Chevrolet Corvette C2 L88 top-view

Its insane that Chevrolet managed to achieve the power they did in 1967. This was the height of the horsepower wars and the Corvette was a big player for Chevrolet. To this day it is considered to be one of the best and most accessible sports cars that money can buy. Over its long lifespan, though, the 1967 L88 Corvette remained the most powerful Corvette to hit the market until 2009, that is if estimates on real world horsepower are to be believed.

There are only three other Corvettes that came stock with more horsepower than the 1967 L88. While the current Z06 that is on the market today tops the 1967 L88 quite easily, 540 horsepower is still an incredibly impressive figure by today’s standards, you can only imagine how mind-blowing it was 57 years ago.

Orange 1969 Chevrolet COPO Camaro

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The L88 Corvette Was A Race Car For The Road

1967 Chevrolet Corvette C2 L88 interior

As we’ve established, the 1967 L88 Corvette was not a toy; it was a pure, unadulterated marvel of engineering and was designed to be the closest thing to a full production race car that you could get your hands on. You had to pay a ridiculous premium to get behind the wheel of this incredible sports car. However, this premium also meant that you had to give up any semblance of luxury on the interior.

A No Compromise Interior

Whilst we often expect tons of equipment on modern-day cars as standard, even budget-level cars, even the basics were seen as luxuries back in 1967. Modern features like touch screens in cars have become absurd, but back in 1967 Chevrolet offering things like air conditioning and radio on Corvettes made it seem like an incredible deal to those looking for a high-end sporty car.

However, if you ticked the L88 option you lost a lot of those amenities. Instead of getting air conditioning, all your money went towards features like heavy-duty suspension and the rock-crusher four-speed manual transmission. It was all about going fast, not about cruising comfortably.

A parked black 1963 Chevy Corvette

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The L88 Might Break Its Own Record

1967 Chevrolet Corvette C2 L88 rear

This isn’t the end of this incredible 1967 L88’s story. It is coming back onto the auction block this year and could easily fetch more than its original price and once again claim the record of the most expensive Corvette ever sold. It also has some competition, though, as another L88 is on sale for 3.95 million, and it has its original V-8. Given the prices that L88s without their original motor have fetched, the 3.95 million asking price may even be a little low.