A ‘Holy Grail’ 1969 Corvette Could Become The Most Expensive
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The only 1969 Corvette ZL1 convertible in existence is expected to fetch up to $3 million at auction.
(Motorcar Studios ©2022/RM Sotheby’s)
An immaculately restored 1969 Chevrolet Corvette with an outrageous amount of factory horsepower may become the most expensive ever sold.
(Motorcar Studios ©2022/RM Sotheby’s)
This “holy grail” ‘Vette convertible, as christened by the classic car experts at Hagerty, is one of two RPO ZL1s ever built, the other being a coupe. It’s the only one that was sold to a retail customer, as the purebred spec was never intended to be available to purchase by the public.
(Motorcar Studios ©2022/RM Sotheby’s)
The ZL1 option was an experiment in racing homologation, with the central focus being the implementation of an all-aluminum CanAm racing engine in a street-legal production car.
Its 427-cubic-inch (7.0-liter) L88 V8 featured a weight-saving all-aluminum block, bolstered connecting rods, a redesigned crankshaft and pistons, larger exhaust valves, a high-lift camshaft, and an upgraded “open chamber” aluminum cylinder-head design with four additional head bolts.
(Motorcar Studios ©2022/RM Sotheby’s)
The result was an absurd 560 horsepower and what was Chevrolet’s most powerful engine to-date.
(Motorcar Studios ©2022/RM Sotheby’s)
Not only was the spec prohibitively expensive—the upgraded $1,032 L88 V8 and $3,000 RPO ZL1 option more than doubled the cost of the base car—the original buyer, John Maher, needed some insider help to get the deal done.
(Motorcar Studios ©2022/RM Sotheby’s)
After first learning about the experimental engine offering from none other than Don Yenko of Yenko Camaro and motorsport fame, Maher secured his order with the assistance of Grady Davis, a two-time SCCA national champion and senior vice president at Gulf Research.
Maher selected Monaco Orange, one of the colors that make up Gulf Oil’s iconic racing livery, as a thank you to Davis and Gulf Research, a partner of General Motors’ racing division.
(Motorcar Studios ©2022/RM Sotheby’s)
RM Sotheby’s, which is offering the vehicle at an upcoming auction, has assigned a pre-sale value of $2.6-$3 million. But that really is only an estimate, because in addition to being one-of-a-kind, the car’s records are comprehensive.
Its birth is illustrated through a series of internal memos and approvals from GM, while further documentation chronicles its various exhibitions, competition entrances, Concours appearances, and a restoration by the world’s foremost Corvette restorer.
(Motorcar Studios ©2022/RM Sotheby’s)
As such, Hagerty writes that this 1969 Chevrolet Corvette Stingray ZL1 has a “legitimate shot” a surpassing it’s pre-auction estimate to take the “world’s most expensive Corvette record” from a $3.85 million 1967 L88 Coupe that sold in 2014.
We’ll find out when it hits the block at RM Sotheby’s Phoenix sale on January 23.
Tags: Chevrolet Chevrolet Corvette classic cars Rides RM Sotheby’s
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