1967 Chevrolet Corvette L89 Sells for $1.7 Million, Sets New Record

While far from rare, the first-year 1963 version is sought-after as the only Corvette with a split rear window. It was also the first to feature big-block V8 power. Chevrolet introduced a 396-cubic-inch (6.5-liter) L78 in 1965 and a series of 427-cubic-inch (7.0-liter) mills in 1966 and 1967.

In 1967, customers had three 427 V8 options to choose from: the L36 with 390 horsepower, the L68 with 400 horses, and the L71 rated at 435 horsepower. These engines found their way into 9,687 Corvettes combined or about 42% of the total production. None of them are super rare, but Chevrolet produced two more 427 V8 models that are quite scarce: the L88 and L89.

The latter was essentially an L71 Tri-Power unit with competition-spec aluminum cylinder heads. The mill was rumored to produce more than 450 horsepower. The L88 was even hotter than the L89. In addition to the lightweight heads and bigger ports, it featured a beefed-up camshaft, 12.5:1 compression, an aluminum radiator, and a small-diameter flywheel. The L88 was nearly a race-spec engine. It ran on 103-octane racing fuel and produced over 500 horsepower.

Both the L88 and L89 are the rarest road-legal iterations of the 1967 Corvette. The L88 moved only 20 examples, while the L89 was ordered by 16 customers. Although it's not quite as scarce as the race-only Grand Sport (only five were made), the L88 and L89 are million-dollar classics as of 2025. The L89 joined the exclusive seven-figure club at Mecum's Kissimmee 2025 auction, thanks to the Marina Blue coupe you see here.

Restored by the Naber Brothers, this Corvette is pretty much flawless, which is a big deal given that the refresh was performed in the late 1980s. The coupe has also received numerous awards over the years. It's been certified Bloomington Gold and received the NCRS Duntov Mark of Excellence with a score of 99.08. It also won the Triple Diamond award at the Muscle Car and Corvette National (MCACN).

Kept in storage somewhere in Texas from 1994 to 2023, the Corvette still packs the original drivetrain. And if you think one-in-16 is too common, you should know it's one of only two examples built in this configuration. Previous ownership included elite Corvette collectors such as Chris Marcom, Bob Rowe, and Larry Martin.

Auctioned off for $1.7 million at Kissimmee 2025, this Corvette is the first 1967 L89 that changed hands for seven figures and is currently the most expensive rig with this engine. When it comes to C2 Corvettes of all model years, it's the fourth most expensive, behind a trio of L88 versions (also produced in 1967).

The Kissimmee 2025 auction was loaded with classic Corvettes, with over 100 examples brought to the event to find new owners. This L89 was the only one that fetched over $1 million, but three more units changed hands for more than $500,000. A 1969 L88 Convertible sold for $759,000, while a 1957 example traded for $715,000. A 1963 Z03/N03, one of only 63 produced, sold for $511,500.