’67 Corvette sells for $3.2 million in new auction record

In general, drag racing cars tend to have a short life; they're frequently broken, crashed or rebuilt with odd parts, and generally rode hard and put away wet. Finding one in good condition can rank as a collector's good luck, but the owners of this 1967 Chevy Corvette did far better at the Mecum auction on Saturday, selling this Vette for $3.2 million — a new auction record for any Corvette.

Corvettes typically don't sell for millions of dollars, mainly because General Motors built so many of them over the years and because most owners cared little about swapping engines or other key parts. The car above breaks that mold thanks to a secret code: L-88. Designed by famed Corvette engineer Zora Arkus-Duntov as a race package, the L-88 featured a tuned version of the 427 big block V-8 good for far more than the 435 hp listed by the factory. Under various racing rules, Chevy had to sell a few copies to the public — but discouraged dealers from advertising it and let its existence be known only to a select few shoppers.