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L-88 Corvettes Bring Good, Not Great, Money at RM Auction

By June 26, 2010

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A few weeks ago, I told you about 2 original L-88 Corvettes to be sold by RM Auctions at their San Diego event, held last weekend.

The L-88 Corvettes were available from 1967 - 1969, and the L-88 RPO code indicates that the Corvette in question has a 427 cubic inch engine that makes an astonishing 560 horsepower. A total of just 216 of these super-powered Corvettes were ever built. So expectations were high last weekend. You can check out the cars in an image gallery here.

The first Corvette to sell was the red one, certified as NCRS Top Flight and Bloomington Gold. It brought a high bid of $365,000 (or $401,500 with the additional 10% buyer's premium to the auctioneer). That is good money for a Corvette, though not close to the $925,000 that Harley Earl's personal Corvette brought last month. The second L-88 was the gold one, known as "Automatically Yours" when it raced. This car is also Bloomington Gold certified, but brought only $195,000, or $211,750 with the added premium.

It's strange to talk about cars selling for "only" $195,000, but the sky's been the limit for rare and certified Corvettes lately. Especially when its stablemate sold for over $400,000 at the same auction, this sale goes to show that little is certain in the world of no-reserve high-stakes collector car auctions, except that the auctioneers make a whole lot of money.

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