The L88 Corvette entered its third year of production in 1969, having established itself as all-conquering in both SCCA and FIA competition.

Rated at a measly 430 horsepower, the L88 pumped out an all-too-real 560 hp at its redline, and, with special heavy-duty brakes, F41 suspension, and a bullet-proof Positraction rear end, it was as potent and race-ready as anything from Detroit at the time.

Well-known as the dominant performance Corvette, it was still under tight production reins imposed at its inception, and only 116 were built.

Here are two that crossed the block at Bloomington Gold—one that sold, one that didn’t—and our thoughts on each.

1969 Chevrolet Corvette L88 Coupe

Chassis number: 194379S707409

Few of the powerful and rare L88s were reserved for street use. This is a low-mileage coupe awarded Bloomington Gold Survivor status in 1997. As that honor indicates, this car is almost entirely original, with 20,000 miles on the odometer and still fitted with the original tires. The excellent Le Mans Blue finish is factory-original, as is the black standard-trim interior.

As listed on the original tank sticker, the car is equipped with K66 transistorized ignition, G81 Positraction rear axle (in this case, with 4.56 gears), and an M22 “Rock Crusher” close-ratio transmission. In addition, it features F41 “special purpose” suspension, J50 power brakes, and J56 special brake system, all of which were required options for the L88, save for power brakes. The only extra on the tank sheet is an order for Soft Ray tinted glass.

Not only does this awe-inspiring Corvette enjoy an excellent and fully documented owner history back to its original delivery, it has also won more than Survivor honors. In 1998, it earned Bloomington Gold Certification and was awarded membership in the Special Collection; it also recently rounded out the trophy shelf with a 2008 NCRS award.

1969 Chevrolet Corvette L88 Convertible

Chassis number: 194679S736083

Sold new in California, this stunning Monza Red 1969 L88 convertible has achieved certification as a Bloomington Gold Survivor. It is well optioned for an L88, most of which were devoid of extras in anticipation of a life in competition.

Along with the original convertible top, it is equipped with the optional color-matching auxiliary hard top and features a tilt/telescopic steering wheel, Speedminder speedometer, and yes, its original F70x15 Redline tires on chrome-ringed Rally wheels.

According to its owner, this magnificent powerhouse—formerly in the Ray Norvell Collection—is a candidate for Bloomington Gold Benchmark judging. It has recently been freshened with an extensive and correct detailing by Houston’s world renowned Nabers Brothers Restorations and was featured at the 2008 Bloomington Gold “L88 Invasion.”

SCM Analysis

Detailing

Vehicle:1969 L88 Coupe & Convertible
Years Produced:1967–69
Number Produced:216 (20 in 1967, 80 in 1968, 116 in 1969)
Original List Price:$6,500 approx.
SCM Valuation:$250,000–$850,000
Tune Up Cost:$150
Distributor Caps:$19.99
Chassis Number Location:Top of instrument panel at base of windshield
Engine Number Location:Pad on front of block below right cylinder head
Club Info:National Corvette Restorers Society 6291 Day Rd. Cincinnati, OH 45252-1334
Website:www.ncrs.org
Alternatives:1965–67 Shelby Cobra 427, 1968 Shelby GT500 KR, 1969–70 Ford Mustang Boss 429
Investment Grade:A

The red 1969 Corvette L88 convertible sold for $435,750 at the Mecum High Performance Auction at Bloomington Gold in St. Charles, Illinois, on June 28, 2008. Shortly afterward, the blue 1969 Chevrolet Corvette L88 coupe was bid to $310,000 but did not sell. Why?

Mecum’s Bloomington Gold sale is possibly the only place where two L88s of this caliber would go under the gavel. The Monza Red L88 convertible was spectacular. To achieve both Bloomington Gold Survivor (more than 50% original) and Bloomington Gold Certification (better than 95% typical factory production) is impressive. The car was worth every penny of its $436k price.

I’ve known the second car—the Le Mans Blue ’69 coupe—since 1990, when Steve Hendrickson of Wayzata, Minnesota, owned it. At that time it was factory original, right down to the spark plugs. The original owner was George Montgomery, owner of Donnybrook Raceway (later Brainerd International), who ordered the L88 as the track’s pace car. The third owner, Denny Kannenberg, claimed to have buried the speedo at over 160 mph on the I-494 bypass around Minneapolis. No one doubted him.

Missed the opportunity of a lifetime

It was the gatefold poster in the November 1990 issue of Corvette Fever magazine, and deservedly so. And it’s still as impressive as it was back then. This car also earned Bloomington Gold and Survivor Certification and has a fully documented history.

But why didn’t the second L88 sell? Could it be, given the current perceived instability of our economy, that there was only room for one like-new L88 in this auction? Maybe, but buyers seemed to have no problem paying up for a truly spectacular Corvette.

No, I suspect the “Buy Me” red paint and alluring rag top of the first L88 simply overshadowed the other car, and nothing more. The blue car was bid to $310,000, and that’s not enough for an L88 of this magnitude. But someone missed an opportunity to buy a like-new 1969 L88—or maybe a once-in-a-lifetime chance to own two

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