If you’re looking to add some high-end Corvette bling to your collection, then look to Mecum’s Harrisburg auction late next month. There you’ll find none other than the first production L88 Corvette being consigned as Lot S90. It’s one of the 20 1967 L88’s built and the only known Tuxedo Black 1967 L88 convertible.
This car and its story are well known throughout the Corvette community. It was originally purchased by noted Corvette racer Tony DeLorenzo at Hanley Dawson Chevrolet in Detroit. He campaigned the car with Dick Thompson and others in 1967 and 1968 and then sold it. It was then raced throughout the 1970’s in various body forms and then sold to Zip Products’ Wayne Walker in the early 80’s who commissioned a Naber brothers restoration. Since then it’s passed through a series of owners while traveling the show circuit.
In that time, it’s claimed Bloomington Gold Certification, 4 Bloomington Special Collection appearances, Bloomington Gold Hall of Fame, multiple NCRS Top Flights, NCRS American Heritage award, MCACN Triple Diamond, and was featured at the 2003 Monterrey Historic races where it was reunited with Tony DeLorenzo.
The car is documented with the original title, the Protect-O-Plate (with an Al Grenning affirmation), and a letter of testimony from Tony DeLorenzo himself.
So, what’s it worth? Looking through the archives we see that this car has made a few appearances in the last dozen years. In January of 2007 it failed to meet reserve at $1.55 million at RM Arizona. In August of 2010 it sold for $1.25 million at Mecum Monterey. Most recently we saw it being offered privately in late 2018 as a pair with the last 1969 L88 convertible. Asking price at that time wasn’t clear and the pair has since been broken up.
But…the 1967 L88 game changed in September 2013 when Mecum sold the maroon 1967 L88 convertible for $3.2 million. Barrett-Jackson followed that up with the 2014 sale of the red 1967 L88 coupe for $3.7 million.
So, given those recent benchmarks we know this car is probably worth at least that much. But how much more value does its “first of” status, history, and provenance add? We have no idea, but think we could be looking at new record high sale if the right 2 people end up bidding against each other. We know it’s worth well over a million bucks, but the question remains just how much over? We’ll find out Saturday, August 3rd in Harrisburg, PA.
Mecum Harrisburg runs July 31st – August 3rd at the Pennsylvania Farm Show Complex in Harrisburg, PA. Portions of the sale will be broadcast on NSCSN, but the exact schedule has yet to be announced.
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