As we rapidly close in on the middle of August we also close on in the annual auction frenzy that takes place during Monterey Week. Over the next several days we’ll take a look at some of the unique Corvettes being offered next week in California. First up is the legendary Owens-Corning L88 Racer. The car, generally considered to be the most successful racing Corvette of all time, is being auctioned at RM’s Monterey sale on Friday, August 17th. Get your banker on the phone now as this one won’t be cheap.

The 1968 Owens-Corning Fiberglass Corvette was piloted by Tony DeLorenzo and Jerry Thompson with Thompson spending the most time in the driver’s seat. Over its career the car has generated a huge stack of accolades including: 1969 and 1972 SCCA A-Production titles, 1968 and 1970 SCCA National A-Production Runner-Up, 2nd in class at Sebring in 1969, as well as 1969 and 1970 GT Class wins at Daytona. Together with its sister car they won all 22 of 22 SCCA/FIA events between 1969 and 1971. The car seen here claimed 11 of those wins.

Off the track, the car has claimed a NCRS American Heritage Award in addition to be featured in numerous magazine articles.

The first restoration on this car began 2000 which returned it to its 1971 24 Hours of Daytona livery. Once completed, the car was displayed with the Grand Sports and other significant Corvettes at Monterey in 2002. It has appeared at other premier car shows since including Pebble Beach in 2002, Amelia Island and the Quail in 2008, and “Chip’s Choice” at the 2007 Corvettes at Carlisle. It’s spent time in National Corvette Museum and is also the cover car on Corvette Racing Legends by Peter Gimenez.

The car currently sports an original L-88 engine and was recently ?re-restored? by Kevin MacKay’s Corvette Repair. Drivers Tony DeLorenzo and Jerry Thompson, provided input during the freshening. The car is fully documented including race results, photos, and a complete ownership history. Still don’t think it’s the real deal? Tony DeLorenzo accompanied the previous owner to properly ID the car.

RM’s auction listing estimates that this car will sell between $950,000 and $1,350,000. Yes, that’s a ton of cheddar to plunk down on an old race car, but consider the following: (1) a stock L88 convertible can run you $600k, (2) the 1967 DeLorenzo L88 sold a few years back for over $1,000,000, and (3) the 1961 SCCA champion C1 no-saled in January at $850k. The Corvette market is red hot for racecars right now so don’t be surprised if this one becomes the next seven-figure Corvette.