The all-new 2014 Chevrolet Corvette Stingray is a performance bargain. For around $50k, you wind up with a vehicle that's capable of yielding world-class levels of performance and can keep up with some of the best sports cars on the planet. If that price point is a little too rich for your blood, there are always older Corvettes. 

Just don't go too far back into the family tree because at some point the prices can start climbing... quickly. Especially when the car in question is a 1967 Corvette L88 Convertible. One just rolled across the Mecum auction block in Dallas and set a new record for all Corvettes by fetching $3.4 million.

The Corvette in question is one of just 20 L88-equipped cars produced in 1967. The L88 designation means its equipped with a 430-horsepower 427 cubic inch V-8 engine, a four-speed manual gearbox and a 4.11 rear end. It's mean't to go fast. Case in point, this exact car ran an 11.47-second quarter mile with a trap speed of over 127 miles per hour. The only additions? A set of headers and drag slicks.

The car has since been completely restored yet retains its original body panels and factory installed side pipes. Even the color has been meticulously restored thanks to help from DuPont in recreating the exact original shade of red this car left the factory wearing. This car fetched such a high price due to its rarity, its drag racing provenance, and the meticulous care with which it's been restored. If vintage Ferraris can fetch sums in the tens and twenties of millions, we say this Corvette is a good buy at just over $3 million. It's nice to see some American iron getting its due on the auction block.

Still, that doesn't mean we don't think the many millions any car fetches isn't a tad bit insane. We just like seeing the wealth distributed across all types of low-production classics.


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