Before its grand debut early last year, the automotive media was convinced that the new Camaro ZL1 was actually going to be called the Camaro Z28. The ZL1 name had been all-but-forgotten by writers outside of collector car circles, where the name is synonymous with a very rare and very valuable factory drag racer from GM’s heydays.

The 1969 Camaro ZL-1 is one of the priciest Chevys you can buy, and just 69 models were ever produced. Showing the value a simple dash makes, these cars usually sell for no less for $500,000, and one of them will be up for grabs at the Toronto Fall Classic Car Auction.

These COPO Camaros were special order only, and carried an immense $7,200 price tag back in the day, though that seems laughably cheap today. Most of that cost came from the all-aluminum, 427 cubic-inch ZL-1 engine, which was seriously underrated at 430 horsepower; modern day estimates put it much closer to 500 ponies. These cars had drag racing in mind, and they dominated the strip. Considering today’s supercharged ZL1 makes just 80 horsepower more, you can see why these cars are so feared and sought after.

In fact, this car is almost guaranteed to sell for no less than half a million bucks, which is what a very similar ‘69 COPO Camaro sold for just a few weeks ago. So even though this car was nothing but a shell when it was recovered in 1982, it has been meticulously restored to factory specifications, including the proper engine. Whomever wins this car is going to be elated the first time they turn over that ZL-1 engine.