05-03-2025
A 1957 Corvette Just Sold for $7.7 Million, Making it the Most Expensive of All Time
A new king has risen to the throne.
The stunning 1957 Chevrolet Corvette SS Project XP-64 became the most expensive 'Vette of all time after it sold for $7.7 million at RM Sotheby's ModaMiami auction late last week. The one-of-a-kind roadster was the first purpose-built General Motors race car.
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In becoming the most expensive Corvette, the SS Project XP-64 broke a record that had stood for more than a decade. The record had belonged to a rare L88-powered 1967 C2 Corvette that Barrett-Jackson sold for $3.85 million in August 2024. Yes, the SS Project XP-64 sold for more than double that amount, in addition to beating the auction house's high-end estimate of $7 million.
It's not particularly surprising to see the SS Project XP-64 become the most expensive Corvette of all time. The gorgeous race car was the brainchild of Zora Arkus-Duntov, the 'father of the Corvette.' The engineer also liked to race, so his idea for track-only Corvette involved more than just putting a bigger engine into an otherwise stock vehicle. Arkus-Duntov and his team completely reimagined the C1 Corvette, outfitting it with a lightweight tubular chassis, a streamlined magnesium body, and a 4.6-liter V-8 with Ramjet fuel injection.
The blue-and-white speed machine may look good on paper, but it didn't fare that well on the track. The car was entered in just one race, the 12 Hours of Sebring in 1957, which is failed to finish due to mechanical issues. Soon after, the Automotive Manufacturing Association, of which GM was a member, pulled its support for factory-backed racing, leaving the race car a one-off. A decade later, Arkus-Duntov donated the race car to the Indianapolis Motor Speedway Museum, where it has remained until last week's auction.
The ModaMiami auction was the third and final RM Sotheby's sale to feature cars from the Indianapolis Motor Speedway collection. Last year, the museum announced it was parting ways with 11 historic vehicles so it could refocus its collection on vehicles that have a direct connection to the racetrack and its history. The vehicles, which included a $36 million Ferrari 250 LM and a $53 million Mercedes-Benz W 196 R Stromlinienwagen, sold for a combined $130 of Robb Report
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