World's Only Tuxedo Black 1967 Chevrolet Corvette L88 Convertible is for Sale

By Ciprian Florea on August, 16, 2024

Produced from 1963 to 1967, the second-generation Chevrolet Corvette is widely regarded as one of the most beautiful iterations of the nameplate. But that's not the only feat it can brag about. The C2 is also famous for its one-year rear split window (1963) and for a few limited-edition versions that morphed into iconic classics.

The second-gen Corvette was the first to get the Z06 badge. A performance-spec package, the Z06 was developed as a race-ready vehicle for competition-minded buyers. Only 199 units were built, and the first-ever Z06 is now a sought-after collectible.

The C2 also spawned the Grand Sport. Designed to compete against the Shelby Cobra, it was Zora Arkus-Duntov's secret project until General Motors executives found out about it and pulled the plug. Duntov's team finished only five of the planned 125 examples, but the Grand Sport won races and lived on to tell its story.

Finally, there's the Corvette L88, a barely street-legal beast fitted with a race-spec engine. The mill in question featured lightweight heads, bigger ports, a hot camshaft, a 12.5:1 compression ratio, and a huge Holley four-barrel carburetor. Officially rated at 430 horsepower, the powerplant could be easily tuned to produce 560 horses, according to owners.

Adding a 35% premium to the Corvette and requiring a host of additional options, the expensive L88 found only 20 owners in 1967. This low production number turned the L88 into a million-dollar classic more than 50 years later and among the most expensive Corvettes ever auctioned. In 2021, a low-mileage example sold for nearly $2.7 million. In January 2024, another low-mileage L88 changed hands for $3.2 million.

Well, this record could be broken for the second time this year because a very special L88 is about to go under the hammer. The Tuxedo Black example you see here is the first production 1967 Corvette L88. Not only that, but it's also the only L88 drop-top finished in this color. Described as "one of the most historically significant L88s in existence," it will hit the auction block this Saturday, August 17, at Mecum's Monterey 2024 auction.

While other L88s haven't seen race tracks, this convertible was campaigned as an A-production racer by Tony DeLorenzo and Jerry Thompson in 1967 and finished second at the Daytona Beach SCCA Runoffs. It was then used as a B-production race car in 1968 and 1969 and won the 1982 Canadian Western GT Championship.

Restored to perfection by Corvette specialists Ken and Gary Naber in the 1980s, it won numerous awards and is one of the most photographed L88s. Mecum usually posts pricing estimates for main-attraction vehicles like this one, but there's no such number for this auction. But it will most certainly change hands for a seven-figure sum. And I think it's very likely that this Tuxedo Black drop-top will become the most expensive 1967 L88 ever sold. I'll be back with a follow-up as soon as the gavel drops.