This Riverside Gold 1969 Corvette equipped with a 427/435 hp L89 aluminum-head optioned Corvette was sold with no reserve at Saturday’s Mecum Auction in Kissimmee, Florida for $62,000. A low mileage Corvette, this big-block is documented with the tank sticker as well as owner history and appraisals.
Rare as the L89 Option was in 1969 (390 total), this Corvette has had trouble finding a new home lately. The Riverside Gold C3 was a no-sale at both the 2009 Bloomington Gold auction and the 2009 Mecum Monterey auction where the high bids were $67,000 and $62,500 respectively.
Proteam Corvette restored the car back in 1990 and the L89 427/435 engine was rebuilt using all-correct parts. Options included positraction with a 4.11 ratio axle, 4-speed close-ratio transmission, Special purpose suspension, aluminum cylinder heads, side-mounted exhaust and tilt/tele steering column.
This was a nice looking C3 stingray and the L89 option should have brought in more in our opinion. However, there was decent money in the house at Kissimmee and for whatever reason, they stayed away from this ’69 Corvette. Couple that thought with the previous two no-sales where pricing stalled in the same range and I think you’ll find there are enough issues with this Corvette along with the fact that its never been judged that is keeping it from breaking out. At $62,000 we call this Corvette a good buy.
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