Tag: rm auctions

The Owens Corning L88 Corvette Goes On the Block and It’s a NO SALE!

Published on by Scott

Dateline: 8.17.12

Another famous Corvette race car makes THUNDER at RM Monterey!

SPECIAL NOTE – Check out the new Owens Corning Corvette Postage Stamp art print at the bottom of this post!

Well I hope that you were able to catch some auction action, live from Monterey, California. High-end auctions, such as the RM and Mecum events draw some of the finest and most interesting cars in the world. For car lovers, these auctions are the proverbial box of chocolates – you never know what you’re going to get.

Last year at the RM Monterey event there were five delightful Corvettes that went on the block – one stocker, a ‘60 Corvette with just 750 miles on the odometer and four Corvette race cars. For Corvette lovers, the star of last years show was the Greenwood Stars & Stripes 1969 427 ZL1 BF Goodrich racer that sold for $580,000.

This year the RM Monterey auction only had one Corvette and WOW, what’a beauty! Preauction estimates predicted that the car should sell for between $950,000 and $1,350,000! “Auctions” are arguably the ultimate expression of the economic free market. Sellers always have an idea as to how much they want for their cars, but when the gavel comes down, it’s the buyers that set the price. Granted, the economic downturn had depressed the prices of exotic cars over the last few years. Some would call it a price correction to rein in the wildly high prices of just a few years before the downturn.

One interesting factor for the Owens Corning Corvette, as compared to the Greenwood Corvette is the car’s pedigree. The Owens Corning Corvette is the winningest Corvette race car of all time with a staggering 22-straight wins! That’s like winning every race for over two years in today’s American Le Mans Series races. Could the Owens Corning record be broken? Sure, anything is possible. But it’s NOT likely.

When you watch the car auctions, there are two parts. First, the car is presented on stage with a detailed description of the car with images and sometimes video. Then the bidding action begins. Here’s how the auction action played out. Continue reading “The Owens Corning L88 Corvette Goes On the Block and It’s a NO SALE!” →

August Auction Action – Watch RM Monterey and Mecum Monterey, Live!

Published on by Scott

Dateline: 8.15.12

A BIG weekend for Corvettes on the block!

Auction action begins at 6:30 Pacific Time for the RM Monterey event.

It’s turning out to be a very interesting weekend for Corvettes at the high-end car auctions, with two big-time events going off at about the same time and area. I checked the RM Auctions website and saw that they have updated their home page and added a “VIEW AUCTION LIVE” link at the top of their homepage. So, they made it easy for us. Auction action starts at 6:60 PM Pacific time (9:30 Eastern Time). If you click the page link before the scheduled start time, all you’ll see is a black box where the streaming video will be. This won’t change until the event starts. After the feed begins, look for the button to Fill Screen, kick back, and enjoy!

 

For details about this fantastic Corvette racer, just click the image.

If you’re mainly interested in the Owens-Corning 1968 L88 racer, the lot number is 141. The numbering begins with #101, a 1953 Hudson Hornet. So with 40 cars before the Owens-Corning car, it’ll be a few hours before the old war horse Corvette comes thundering upon the stage.

But if you love old cars and racing machines, the auction is a treat. Not only do you get to see the numbers ring up, but before the bidding begins, they describe the car, show photos and videos, as well as letting you get a good look at the car on the turntable. Most of the cars at the RM event are really special and have been lovingly restored and cared for. The marque almost doesn’t matter, they’re just wonderful machines. Continue reading “August Auction Action – Watch RM Monterey and Mecum Monterey, Live!” →

Owens-Corning Corvette in the New RM Auctions Monterey Catalog

Published on by Scott

Dateline: 8.9.12

A stunning collection of photos of one of the toughest racing Corvettes ever!

To access the RM Auctions catalog, just click on the above image.

RM Auctions is putting on 11 events for 2012 and the Monterey auction is just around the corner. Last year five Corvettes went on the block, four racers and one stocker, with all but one finding a new home. Of course, last year’s BIG star for Corvette fans was the Greenwood Stars and Stripes 427 ZL-1 #49 Corvette that went for $580,000.

This year there’s only one Corvette and WOW is it a beauty with a story. The Owens-Corning 1968 L88 Corvette was one of the fiercest Corvette racers ever.  Raced by Jerry Thompson and Tony DeLorenzo, the car scored an astonishing 22 victories in a row! The team fielded two L88 Corvettes and at one point took 1st and 2nd in 14 of the 22 races won. In the March 2010 issue of Corvette Magazine, Jerry Thompson was quoted saying, “They worked. That doesn’t mean that they were easy to drive. The engines had so much torque and power that most guys were intimidated by them.”

When Corvette Repair performed the restoration on the car, Kevin Mackay and his team took the car back to its 1971 24 Hours of Daytona livery. The car has been beautifully photographed for the RM Auction catalog. RM Auction publishes a paper book/catalog for around $50, but they also publish a digital version through ZMags at no charge. Every car that’s up for auction is in the catalog with first class pictures and wonderfully written articles about each car. The catalog by itself is a delight, and you can’t beat the price.

To access the digital catalog, Continue reading “Owens-Corning Corvette in the New RM Auctions Monterey Catalog” →