YOU’RE NEVER LATE IN AN L88: Corvette’s aluminum and iron legend has unique historical significance

September 10, 2015
Posted by Barrett-Jackson

Written by independent automotive journalist Steve Magnante

Spectators and bidders alike are in for a memorable day when this fine example of the legendary 1968 Corvette 427 L88 (Lot #738) crosses the block at the 8th Annual Barrett-Jackson Las Vegas Auction, September 24-26, 2015.

If you’ve ever been to a vintage car show in a country other than the United States, you might be in for a surprise. Hoods generally remain shut. Outside America’s borders, the predominant interest lies in the design aesthetics of the body: the curves, the visual flow and how coachbuilders hand-formed sheets of flat aluminum into graceful three-dimensional surfaces. The engine, by contrast, is often referred to as the “lump” and the less seen of it, the better. Here in the States, we like to display our collector cars with their hoods wide open. Nowhere else is this more true than in the Corvette world, where the presence of a rare engine option can trigger a hundred-fold increase in dollar value – and historical significance. An excellent example of this phenomenon is seen in the 1968 Corvette 427 L88.

For the model year 1968, there was a 427 Corvette to suit every need – the big, orange, aluminum and chrome “rat motor” came in no fewer than four levels of tune. If you’re new to the world of 427 Corvettes and haven’t heard of the L88, don’t feel surprised. Chevrolet did a thorough job of ignoring the L88 in dealer literature, largely because between 1967 and 1969 only 216 of these ultra-performance Corvettes were built specifically for race duty. Street operation was not encouraged. Only 20 units of the first L88s were built in 1967 for SCCA competition and were not offered with creature comforts like a heater, radio, power steering or air conditioning.

1968 saw construction of another 80 L88-powered Corvettes and some minor evolutionary changes to cam timing, cylinder head port and combustion chamber configurations. The 12:1 pistons, enlarged connecting rods, 4-bolt main bearing caps, aluminum heads, huge Holley 850-cfm double-pumper 4-barrel carburetor and the laughably conservative 430-horsepower rating remained. The actual pre-blueprinted output was more like 550 horsepower – a full 50 above the hottest L71 427 (which actually made about 500 horsepower in perfect tune).

It is interesting to note that 1968 brought some creature comforts to the list of options available with the L88, which added nearly $950 to the Window Sticker. An available “cabin heater” was added, along with power windows, tinted glass, side pipes, rear-window glass defogger, leather seats, bolt-on hardtop, speed warning indicator, engine block heater, headrests and tilt-telescopic steering column. A heavy-duty version of the Turbo 400 automatic transmission – an odd feature for a car meant for road racing – was offered in 1969, when another 116 L88s were built. Again, these items were optional with the L88, though most buyers ignored them, as they’d only be stripped clean for racing.

Ordering the L88 triggered many mandatory options intended to maximize the brakes, suspension and ignition for race duty. The standard 4-wheel manual disc brakes gave way to J50 power-boosted brakes. Upsized J56 heavy-duty 4-pin calipers made for quicker pad replacement and increased clamping force on the rotors. The F41 heavy-duty suspension reduced body roll. The M22 close-ratio 4-speed transmission utilized coarse-cut gears for added strength. The K66 transistorized ignition boosted spark intensity while prolonging breaker point life.

Then there was that hood. Unlike 1967 L88 Corvettes, which retained the standard 427 hood skin (though made functional), the 1968 and ’69 L88s got a new bulged hood that was a match for the rest of their gorgeous body shells. Similar to the non-functional big-block hood of 1968-1972, the L88’s central dome was heightened about two inches and a closed-plenum chamber was added within. Drawing outside air from the high-pressure zone near the base of the windshield, the L88 hood’s filter element was built into the hood and (with the hood closed) encircled the metal baseplate with a foam seal to eliminate entry of heated under-hood air.

One of those 80 L88s built in 1968 is crossing the block at the upcoming Barrett-Jackson Las Vegas Auction as Lot #738. This amazing example escaped the hard life of an SCCA racetrack veteran, has had only two owners since new and displays a mere 24,760 miles on the odometer.

“The tank sheet that defines how this car was originally built is present and is very legible, showing all the options,” says Roy Sinor, a renowned independent Corvette expert who is also on staff at Barrett-Jackson. “Many times the external location of the paper tank sheet leads to deterioration from moisture, but not in this case.” This car was originally painted Polo White with a red leather interior and is now presented in red over red. According to Sinor, “The leather seats cost an extra $79. While 2,429 1968 Corvettes were built with them – which amount to about nine in 100 – seeing them in this otherwise bare-bones L88 is a real surprise.”

Like so many L88s, this car crossing the Barrett-Jackson block in Las Vegas is offered with a period-correct drivetrain. “It is an exception to the rule to find an L88 with its original engine block,” points out Sinor. “These cars were built for racing, and overstressed parts were a fact of life. When an engine broke, it was replaced.” When and how the original L88 engine went missing is unknown, but the replacement items bear the proper casting dates and assembly stampings to help return the car to its full glory.

While the drivetrain has some correct replacement parts, the body has survived without accident damage, a special detail considering that race-active L88s traveled in tight packs at speeds up to 200 mph. To find one today with an unmolested body and frame largely offsets the replacement driveline components. Lower the spare-tire carrier tray and you’ll find a surprise that has not been replaced: the original spare. Still bearing mold “teats” and mated to its one-year-only 15×7 Rally wheel (they grew to 8-inch width in 1969), the pristine red line spare is an indicator of the purity of this two-owner L88.

Though the 427 big-block Corvette buyer take-rate nosedived following the peak year of 1968, it is telling that the second owner of this one entered it in the 1977 Indianapolis World of Wheels car show. Even as a fairly new 9-year-old Corvette, the judges recognized its historical importance and awarded it a second-place trophy. Yes, the hood was open – to display the aluminum and iron legend that is the L88. Spectators and bidders alike are in for a memorable day when this legendary Corvette once again takes the stage during the 2015 Barrett-Jackson Las Vegas Auction.

For up-to-date information on this vehicle, click HERE.

– Written by independent automotive expert Steve Magnante