15 September 2015

Classic Classified: 1967 Chevrolet Corvette L88 Coupe

From: Hemmings Motor News
Date: December 1983
Price then: $37,500 ($90,000 adjusted for inflation, about the cost of a new 2015 Corvette Z06, 3LZ today)
Price now: $2,100,000 - $3,650,000
Approximate dollar difference: $3,560,000 (assuming No. 1 condition)
Approximate annual rate of return: 12.2%

1967 Corvette L-88 Coupe: One of 21 built, car built June 1967. 11,000 original miles, black, black interior, dual factory exhaust, steel wheels, redline tires, original gas tank sticker with car. This is the finest L-88 Corvette in the USA. This is the last Corvette from our extensive Corvette collection to be sold. $37,500.

New for 1967, the Corvette came with the race-ready 427 using the RPO code L88. Rated (or severely underrated according to most) at 430 hp, this engine option alone cost about as much as the base Corvette. That’s why only 20 (not the stated 21 in the ad) were ordered for 1967, making it the rarest and most sought after year for this option. To find a low-mileage car in a desirable black-on-black color combination is a once-in-a-lifetime find for someone in 1983 with the extra money to pick it up. The real question here is would you cash in today for the  millions or just enjoy the car?

6 Reader Comments

  • 1
    Gary Hammond Lancaster, CA October 7, 2015 at 15:25
    Another woulda, shoulda and somehow coulda! We shake our heads only wishing we would have been able to foretell what would happen to the value of cars we once owned.
  • 2
    KDD Oregon October 7, 2015 at 16:17
    A lyric from an old Steve Miller Band tune "...go on, take the money and run.", comes to mind immeadiately. At that price you can't drive it without holding your breath-for fear some yo-yo driving a silver Hyundai hits you. Go get a '67 Vette and put the 427 in that and go out and scare the stuffing out of yourself. How can a plastic car from yesteryear be worth private jet money? Silly money.
  • 3
    Trader Oklahoma October 7, 2015 at 07:55
    Where else can you make 12%; and better yet, where else can you make 12% AND enjoy an auto like this?
  • 4
    Pete Loscalzo Lebanon, NJ October 7, 2015 at 08:35
    In a heartbeat I would cash in for that price (if I could get it) and retire to an island in the Caribbean! And I'd by a brand new, nicely equipped Corvette with about 3% of the money to go back and forth to the market for Tequila and Rum!
  • 5
    Jim Guibord Detroit, MI October 7, 2015 at 10:29
    I would cash in and enjoy allot of other cars.
  • 6
    Kevin Mackay Valley Stream NY December 30, 2015 at 13:36
    I know the L88 well we have it at our shop at Corvette Repair Inc.

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