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world record

1967 Corvette L88 Sells for World Record $3.5 Million at Barrett-Jackson

All Corvette enthusiast eyes were on Barrett-Jackson in Scottsdale Saturday afternoon in expectation for some record setting prices. If you have been following CorvetteBlogger’s updates on this week’s Barrett-Jackson auction extravaganza, you know that their 2014 event has gotten off to a strong start with attendance up 30% through Thursday and sales exceeding last year by over 8%.

Saturday is traditionally when the best of the best collector cars cross the block and in the late afternoon within a little over one hour six Corvette lot numbers sold for a combined total of $8.63M including bidder fees. These included some of the best known and important Corvettes.

But the real star of the afternoon was a 1967 second generation L88 coupe we called the “crown jewel” of Corvettes in an article back in November, one of only twenty Corvette L88 coupes built that year. Within a few minutes of the famous “Rebel” racecar selling for $2.86M (including buyer’s premium), the 1967 L88 red/red award-winning coupe set a new world’s record for a Corvette sold at auction when it hammered for $3.5M ($3.85M including buyer’s fees). The bidding quickly rose to $2M then surpassed the former record price of $3.2M set by another 1967 L88 last September by almost 10%. When the reserve was lifted the car sold setting a new world’s record Corvette auction record.

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