First 1967 Chevrolet Corvette L88 Fetches $2.31 Million at Auction

Highlighting its rarity and iconic status in automotive history.

In a testament to its enduring legacy, the first 1967 Chevrolet Corvette L88 recently sold for an impressive $2.31 million at Mecum Auctions' Monterey event. This particular Corvette is not just another classic car; it’s a symbol of Chevrolet's ingenuity and racing pedigree, wrapped in the sleek, unmistakable lines of a Tuxedo Black convertible.

The L88 package was Chevrolet's covert attempt to homologate the Corvette for SCCA production class racing. It featured a 427 cubic-inch V8 engine officially rated at 430 horsepower, but in reality, the engine delivered more than 500 horsepower with minimal tuning. Paired with competition-grade brakes, suspension, and a four-speed manual transmission, the L88 was a race car disguised as a street-legal vehicle.

Despite its capabilities, Chevrolet managed to keep the L88 somewhat under the radar. Only 20 units were sold in 1967, making it an incredibly rare and sought-after model among collectors today. The total production of L88s from 1967 to 1969 was limited to just 216 units, spread across the second and third generations of the Corvette.

This specific 1967 L88 Corvette holds a unique place in automotive history. Originally raced by Tony DeLorenzo and Jerry Thompson, it stands out as the only L88 from that year painted in Tuxedo Black. Although the car is no longer entirely original due to various modifications over the years, its racing pedigree remains intact. After securing victory in the 1982 Canadian Western GT Championship, the Corvette was meticulously restored and has since won several awards at car shows.

The $2.31 million sale price reflects its status as a significant piece of Corvette history, though it falls short of setting a new record for the model. Nonetheless, the sale underscores the L88's reputation as one of the most iconic and coveted American muscle cars ever produced.