A legendary Corvette has just made history. The 1957 Chevrolet Corvette SS Project XP-64 became the most expensive Corvette ever sold, fetching an astounding $7.7 million at RM Sotheby’s ModaMiami auction. This sale surpassed the previous record held by a 1967 C2 Corvette, which sold for $3.85 million in 2024. The Corvette SS Project XP-64 even exceeded RM Sotheby’s high-end estimate of $7 million, cementing its place as a collector’s dream car.
Designed as General Motors‘ first purpose-built race car, the SS Project XP-64 was the brainchild of Zora Arkus-Duntov, often called the “father of the Corvette.” Unlike a modified production model, this Corvette featured a revolutionary design with a lightweight tubular chassis, a streamlined magnesium body, and a powerful 4.6-liter V-8 engine with Ramjet fuel injection. The car’s unique engineering and historic significance made it highly sought after at auction.
Despite its cutting-edge design, the Corvette SS Project XP-64 had a short-lived racing career. It only participated in one event—the 1957 12 Hours of Sebring—where it failed to finish due to mechanical issues. Shortly after, General Motors withdrew from factory-backed racing, leaving this car as a one-off prototype. In 1967, Arkus-Duntov donated the vehicle to the Indianapolis Motor Speedway Museum, where it remained for nearly six decades until it was put up for auction.
The ModaMiami auction was part of a broader effort by the Indianapolis Motor Speedway Museum to refine its collection by focusing on cars directly linked to the racetrack’s history. This event was the final sale featuring vehicles from the museum, including other record-breaking classics like a Ferrari 250 LM that sold for $36 million and a Mercedes-Benz W 196 R Stromlinienwagen, which fetched $53 million. In total, these sales generated a staggering $130 million.
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