1967 Chevrolet Corvette

L88 Coupe
Mecum Glendale 2021
Thursday, 18 March - Sunday, 21 March
$2,695,000
Sale Price
Yes
Reserve
20 March 2021
Sold Date
S122.1
Lot Number
#2+
Older restoration
Mecum Auctions
Auction House
Chassis no. 194377S119136; Engine no. 7119136. Sunfire Yellow with black stinger over black. 427/430hp L88, M22 4-speed, transistor ignition, heavy duty brakes, F41 suspension, red line tires.

Evaluation: Matching numbers. One of 20 L88s built for 1967, the first year for the L88 engine and the last year for the C2-generation (1963-67) Corvette. Represented as the only known Sunfire L88. Showing just 348 miles since a 10-year restoration. It has won won just about every award a show-quality Corvette could expect to win, and it comes with every piece of paperwork one could want to verify its authenticity. It also comes with the original owner’s manual, NCRS-validated tank sticker, original sales contract, and original historic title. Far and away the star of this auction and one of the best Corvettes offered at auction in a long time.

Bottom Line: When it comes to regular production Corvettes, the 1967-69 L88 is at the top of the food chain, and that’s largely because these cars hardly qualify as “regular production” at all. Chevrolet never promoted the L88 engine option, vastly underrated it at 430 horsepower, and charged a hefty $1500 to those in the know who ticked the right boxes for it. With aluminum cylinder heads, a solid lifter cam, and 12.5:1 compression along with forged pistons, rods and crankshaft, the L88 was essentially a race motor for the street. Further hinting at its real purpose, the L88 option also deleted the heater and radio but added F41 suspension, Muncie M22 “Rock Crusher” 4-speed, J56 heavy duty brakes, and Positraction differential. Despite the L88 being the most hardcore Corvette you could buy, few people stepped up for one. Just 20 were sold in 1967, while 80 sold in 1968 and 116 sold in 1969. The 1967 cars, being rarer and on the more attractive C2 body style, are the most valuable.

We last saw this spectacular L88 at Mecum Indy in 2018, where it was bid to $1.7M but remained unsold. The right people were watching this time around, however, and at $2,695,000 this is the third most expensive Corvette sold at auction ever. It is also the second most expensive L88 ever sold, coming in behind another 1967 coupe that Barrett-Jackson sold in 2014 for $3,850,000. Given the yellow car’s pedigree and condition, a higher price wouldn’t have been surprising, but it’s still going to a new home at a fair number.

by Andrew Newton
23 March 2021

Comments

  • Ed Lutz says:

    Beautiful car, but way out of my league…

  • Darcy says:

    The top 1% have more money than they can ever spend, so why not buy an L88 to put in your collection? Does anyone think this car will NOT be worth $5,000,000 in a few short years? You just have to look back and check the data for when it was only worth $1,000,000. How many years?

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Condition definitions
Condition #1: Concours
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is “concours.“
Condition #2: Excellent
#2 vehicles could win a local or regional show. They can be former #1 vehicles that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and finishes will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine. The vehicle will drive as a new vehicle of its era would. The one word description for #2 vehicles is “excellent.“
Condition #3: Good
#3 vehicles could possess some, but not all of the issues of a #4 vehicle, but they will be balanced by other factors such as a fresh paint job or a new, correct interior where applicable. #3 vehicles drive and run well, but might have some incorrect parts. These vehicles are not used for daily transportation but are ready for a long tour without excuses, and the casual passerby will not find any visual flaws. “Good” is the one word description of a #3 vehicle.
Condition #4: Fair
#4 vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. “Fair” is the one word that describes a #4 vehicle.
Condition #5: Poor
Running, but battered, incomplete, and perhaps rusty.
Condition #6: Parts car
Parts car.
N/A
Hagerty only assigns condition ratings to vehicles we can inspect in person or, for online listings, via high-quality photography.