Four months ago, a 1967 Chevy Corvette L88 set a new auction price record for a Corvette, going for a cool $3.2 million. The record it shattered had upheld for 5 years before the 67’ Vette, which is one of 20 in the world, broke it.
The $3.2M record didn’t even come close to standing as long as the previous auction record because another L88 Corvette sold for $3.85 million this past weekend at Barrett-Jackon’s car auction frenzy in Arizona.
While the Vette record auction price is impressive, even more mind-blowing is the total amount of money spent at the antique car auction in Arizona. An incredible $248.6 million worth of beautiful cars were sold at Barrett-Jackson’s latest event, another auction record.
A 1958 Ferrari 250 GT LWB California Spyder warranted the highest bid at the auction, fetching $8.8 million.
Antique car enthusiasts are spending more and more money on their prized vehicles because the value of rare cars continues to rise, much like the growth in new luxury cars. Wealthy folks have money to spend and what better to donate your money to than a 67’ Corvette GM will never produce again.