A 1963 Chevrolet Corvette Grand Sport has become the most expensive Corvette ever sold, fetching US$18.7 million at an auction. The car, chassis 003, was one of five built by engineer Zora Arkus-Duntov to compete with the Shelby Cobra.
The Corvette Grand Sport was a secret factory effort, as General Motors had banned corporate racing involvement. Despite this, Arkus-Duntov built five Grand Sports, including three coupes, which were tested and honed on the track.
The Grand Sport racked up wins in its SCCA C-Modified class through 1963 and succeeded in trouncing the Cobra at the 252-mile Nassau Trophy race in the Bahamas. The car was retired largely unchanged from its factory specifications and was sold to a noted collector in 1975.
It was later purchased by its present caretaker in 2003, who treated it to a meticulous restoration of over 4,000 man-hours. The car’s sale price more than doubled the previous record of US$7.7 million set by another racing prototype engineered by Arkus-Duntov.
The sale of the Grand Sport suggests that classic American racing cars are entering a new, higher echelon, with a Shelby Daytona also selling for US$39 million over the same weekend. This trend may indicate a shift in the market for rare and historic cars, such as the Silverado 1500 and other high-performance vehicles.
For example, the Grand Sport’s sale price can be compared to other notable sales of classic cars, such as the Ferrari 250 GTO, which has sold for record-breaking prices in the past. However, the Grand Sport’s unique history and racing pedigree set it apart from other classic cars.
American car manufacturers were heavily involved in racing in the middle of the 20th century, producing high-performance cars like the Grand Sport. Arkus-Duntov’s innovative spirit and engineering expertise pushed the boundaries of what was possible with the Corvette, resulting in a car with exceptional performance capabilities.
The Grand Sport’s restoration was a painstaking process that involved re-engineering many of its components using experimental alloys. The car’s steel tube-frame was built up as a base, and other steel factory parts were replaced with aluminum, while thinner, lighter fiberglass panels were used in place of the stock bodywork.
The result was a car that weighed just 1,900 lbs, down from the original 3,200 lbs. The Grand Sport’s engine was also modified, with a 377-cube V8 topped by four-carb cross-ram intakes, producing roughly 600 horsepower, making it a highly sought-after collector’s item.
The Grand Sport’s sale is a significant event in the world of classic cars, and its price reflects its rarity and historical significance, similar to the recent turnaround of Volvo Cars in the automotive industry.
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