Seven-Figure Bargain? Holy-Grail 1967 Chevrolet Corvette L88 Sells for $1.65 Million

But the C2 is much more than that: it also spawned some of the rarest and sought-after Corvettes in history.

The Z06 is the first that comes to mind. Born as a way around the AMA ban on factory racing, the Z06 was conceived by Zora Arkus-Duntov with racing enthusiasts in mind. Powered by a fuel-injected 327-cubic-inch (5.4-liter) L84 rated at 360 horsepower, the Z06 wasn't the most potent 'Vette at the time.

However, the larger-diameter shocks and springs, power brakes with race-spec linings, vacuum brake booster, and the larger front anti-roll bar turned it into a race-ready rig. The Z06 was also available with an optional 36-gallon tank. Capable of holding 16 gallons more than the standard tank, the unit made the Z06 suited for long races such as Daytona and Sebring. Chevrolet produced 199 ZO6s in 1963 and just 63 cars got the big tank option.

Duntov also wanted a fully-fledged race-spec Corvette that would give the Shelby Cobra a run for its money. And he initiated a secret program that spawned the Grand Sport. Initial plans included a production run of 125 units for Grand Touring homologation, but GM executives found out about the program and canceled it. Duntov's team had built five cars at the time.

All of them have survived to this day, and the Grand Sport is now one of the rarest and most valuable Corvettes ever made.

Then there's the 1967 L88, the meanest road-legal iteration of the series. Much like the Z06, it went against GM's support of the AMA ban on factory racing, but it did so while flexing a monstrous 427-cubic-inch (7.0-liter) V8.

Developed by Duntov and Roger Penske on the race track, the L88 mill featured a forged steel crankshaft and connecting rods, forged aluminum pistons, a solid-lifter cam, high-flow aluminum heads, and a Holley 850-cfm four-barrel carburetor. Officially rated at 430 horsepower, the engine was actually good for around 550 horsepower with a bit of tuning.

But the L88 was not a cheap affair. Only available with a list of mandatory options, the L88 came in at more than $5,700, a 35% premium over the base Corvette. The high sticker and the engine's need for 103-octane racing fuel, which was only available at select stations, kept customers away from the L88. Chevrolet sold only 20 units. The Sunfire Yellow example you see here is one of them.

And it's special beyond its extremely low production number and race-spec L88 engine. Not only is it the only one finished in this hue, but it's also the only Duntov and Triple Diamond-awarded 1967 L88 still sporting its original powertrain.

It's been restored, so it's not a fully-fledged survivor, but this Corvette is highly original and has amassed an impressive number of awards over the years. Moreover, it's still titled to the war veteran who bought it back in 1967. In short, it has never been titled since the original purchase.

But the Corvette changed hands a few times and was just auctioned off for $1.65 million ($1.815 million including buyer's premium). This figure makes it more valuable than a Z06 "Big Tank" and among the most expensive C2 Corvettes ever auctioned. However, it also sold for much less than it did in the past.

While $1.65 million may seem like a huge chunk of dough, this L88 changed hands for nearly $3 million back in 2018. Three years later, it found a new home for $2.69 million. It's unclear why the sticker dropped by a whopping $1 million, but this 'Vette remains one of only a handful of C2s sold for seven-figure sums.

On the flip side, the price is pretty much a bargain compared to the world's most expensive 1967 L88, which sold for $3.2 million in January 2024.