This pristine 1969 L88 Corvette earned its eye-watering final price
When we looked at this 1969 L88 Corvette on Bring a Trailer last week, we knew it was a remarkable example of an already desirable car. We didn’t know that it would break our price guide, eclipsing its #1-condition value by more than $150,000.
The final number, plus buyer’s commission, was $615,000. In the current edition of the Hagerty Price Guide, a museum-quality 1969 L88 coupe is valued at $425,000. What made the difference with this Tuxedo Black example? Simply put, “It was an exceptional car for an exceptional price,” says Greg Ingold, HPG assistant editor. The car’s litany of awards witnesses to its flawless condition: MCACN Concours Gold and Triple Diamond certifications, two Bloomington Gold certifications, and no less than four NCRS Top Flight awards. Of course, it doesn’t simply look good sitting still; the Bring a Trailer listing, which includes a driving video, clearly testifies to its fine mechanical fettle. For well over half-million dollars, of course, we’d expect this beast to be chomping at the proverbial bit.
This L88 may have brought an eye-watering result, but it’s important to note that one high result doesn’t set a trend—even in a market that has, in recent years, proven fairly weak.
Just this month, this pair of L88s—offered as a single lot last February—were auctioned separately at Mecum’s Kissimmee event but were both no-sales. Ingold notes that, as always, venue matters. For whatever reason, Bring a Trailer tends to bring strong prices on a regular basis. “The L88s that have come to live auction haven’t had motivated buyers or sufficiently motivated sellers,” he says.
Based on this sale alone, we can’t conclude that the L88 market is shifting. The result certainly has our attention, but it will take another price-guide-breaking result to move the needle.