Gulf One Z06 tops $1 million at auction

An icon of 1960s racing, the Gulf One Corvette Z06 racer, was in familiar position last weekend at the Mecum Auction--first.

The 1963 car sold for $1.05 million at the Kissimmee, Fla., event--doubling the price of a 1962 Mercedes 300 SL, which went for $525,000, not including the buyer’s premiums.

The racer is based on a production Corvette Sting Ray. It’s one of 14 from 1963 assigned specifically for competition and was one of two outfitted by Don Yenko.

It was campaigned by Dick Thompson, who was dubbed the “Flying Dentist,” to numerous wins, including the Puerto Rico Grand Prix, and a first place in the GT3 class at the 1963 Daytona. It also was a frequent winner at barnstorming events.

The Corvette has been restored to its appearance from the 1963 Sebring 12 Hours, including the modified fender flares that were a last-minute change.

Originally, the car was equipped with a fuel-injected 327 V8 that made 360 hp and a four-speed manual transmission.

The Gulf One car was one of several Corvettes that went for top dollar at the event, including a 1969 L88 racer, which went for $305,000, the third-highest sale, and a 1957 convertible, which was fourth with a selling price of $250,000.

In total, the auction reported gross sales of $16.5 million, up from last year’s $15.2 million. Also, attendance increased 51 percent from 2008, and 58 percent of the 750 cars were sold, Mecum said.

By Greg Migliore