Back in the day, the 1967 L88 Corvette was one of the most sought-after cars ever built – and that trend continues into 2013. Mecum Auctions just sold this incredible machine over the weekend of September 4-7 at their Dallas 2013 auction for the tidy sum of 3.2 million dollars. Yes, you read that correctly; this immaculately-restored Corvette crossed the auction block to become the most expensive Corvette ever.

According to Mecum, the car was purchased new at Lyman Slack Chevrolet in in Portland, Oregon, by Jim Elmer, and subsequently taken to the dragstrip at Puyallup, Washington, where it ran an 11.47 with a set of headers and 7-inch drag slicks. The car enjoyed an extensive drag racing career including a win in A-Sports at the 1967 U.S. Nationals.

After blowing up the transmission and rearend, Elmer attempted to make a warranty claim but that failed (probably had something to do with the sponsorship decals and ET stickers on the windows). Elmer then sold the car – for the whopping price of $5,000 to friend Rob Robinson – who repaired it and continued to run the car in partnership with Clayton Cotardi in A/Sports through 1969.

It was then sold to Tim Thorpe, who started a restoration project before selling it yet again to Buddy and Nova Herin in 1998, who had world-renowned Nabers Brothers of Houston complete the restoration process.

The car is one of 20 L88 Corvettes produced in 1967 and has a long and storied history. The car was restored with the L88 427/430-horse engine, Muncie M22 four-speed transmission, 4.11 rear, and F41 Special Suspension option.

What surprised us most is that it’s believed to be the only 1967 L88 ‘vert to still have the factory body panels; racecars rarely retain the use of those for long as people remove them for lightweight pieces.

Without a doubt one of the nicest Corvettes in the world – and a buyer just made sure it’s the most expensive. Now, about that Powerball ticket…