Cars We Remember/Collector Car; Top 10 Most Expensive American Cars Sold at Auction

By Greg Zyla —

Since we did a Top 10 worldwide auction sales a few weeks back, here’s a feature on the Top 10 Most Expensive American Cars sold at auction, focusing on sales through major auction houses like Barrett-Jackson, Mecum, and RM Sotheby’s. All vehicles listed are American-made. By the time the research was completed, some of the results may have changed.

1. 1966 Ford GT40 Mk II – $9.8 Million
While not always included in “American” lists due to its international development, the GT40 was built by Ford to beat Ferrari at Le Mans—and it did. This car, sold at RM Sotheby’s, was part of the legendary 1-2-3 finish in 1966. It’s the most expensive American racing car ever sold at auction. Watch the movie “Ford v Ferrari” to enjoy and learn about the entire GT40 build story and questionable finish.

2. 1965 Shelby Mustang GT350R Prototype – $3.85 Million
Though not in the top 5 by price, this car deserves mention for being the first Shelby Mustang ever built. Sold at Mecum, it was the prototype for all GT350Rs and was raced by Ken Miles. Its provenance and performance heritage made it a record-breaker. This prototype for all GT350Rs was raced by Ken Miles. Its provenance and performance heritage made it a record-breaker.

3. 1971 Plymouth Hemi Cuda Convertible – $3.5 Million
Another ultra-rare Hemi Cuda, this one came with a 4-speed manual and was one of only two built in 1971 with that configuration. Sold at Mecum, it’s a poster child for the muscle car era.

4. 1967 Chevrolet Corvette L88 Convertible – $3.4 Million
Sold at Mecum Kissimmee, this ultra-rare L88 is one of just 20 built in 1967 and the only one finished in Tuxedo Black. With a race-ready 427-cubic-inch V8 and no creature comforts, it was built for speed, not luxury. Its rarity and originality made it a crown jewel for collectors. Chevy dealers were told to try and sell the 435 horse tri-power 427 which was cheaper than the 430 horse L88, which was listed at 430 horses.

5.  1954 Oldsmobile F-88 Concept – $3.24 Million
A one-off GM concept car, the F-88 was never meant for production. It featured a fiberglass body and a 250-hp Rocket V8. Sold at Barrett-Jackson, it’s now considered one of the most important concept cars in American automotive history.

6. 2020 Chevrolet Corvette Stingray VIN 001 – $3 Million
This was the first mid-engine Corvette ever produced, and it was sold at Barrett-Jackson in a charity auction. The winning bid supported the Detroit Children’s Fund, and while the car itself is a modern marvel, its historical significance and charitable angle drove the price sky-high. Noted dealer and NASCAR team owner Rick Hendrick was the successful bidder.

7. 1948 Tucker 48 “Torpedo” – $2.92 Million
Only 51 Tuckers were ever built, and this one fetched nearly $3 million at Barrett-Jackson. The car was revolutionary for its time, with a rear engine, safety features like a padded dash, and a third headlight that turned with the steering wheel. Its rarity and backstory make it a collector’s dream.

8. 1969 Chevrolet Corvette L88 “Rebel” – $2.86 Million
This race-prepped L88 was one of four lightweight versions built in secret due to GM’s racing ban. It competed in IMSA events and was restored to its original racing specs. Sold at Barrett-Jackson, it’s a piece of motorsport history.

9. 1970 Plymouth Hemi Cuda Convertible – $2.2 Million
One of only 14 Hemi Cuda convertibles built in 1970, this beauty sold at Mecum. With a 426 Hemi V8 and a 4-speed manual, it’s the ultimate Mopar muscle car. Its rarity and condition made it a top seller.

10. 1969 Chevrolet Camaro ZL1 – $1.1 Million
Only 69 ZL1 Camaros were built, each with an all-aluminum 427 V8. This one, sold at Barrett-Jackson, was in pristine condition and had matching numbers. It’s a holy grail for Camaro collectors.

The Hidden Cost: Auction House Fees
When a car sells at auction, the hammer price (the winning bid) isn’t the final amount the buyer pays. Auction houses charge a buyer’s premium, typically:
– 10%–12% at most collector car auctions, and sometimes higher for charity auctions or special events.
For example, if a car sells for $3 million and the buyer’s premium is 10%, the actual cost to the buyer is $3.3 million. This fee goes to the auction house to cover planning, marketing, and operations.

Some auctions also charge a seller’s fee, usually around 5% to10%, which is deducted from the seller’s proceeds. These fees are part of what makes high-end auctions a lucrative business.

Why These Cars Command Top Dollar
Several factors drive these sky-high prices: Rarity: Limited production numbers or one-off builds; Provenance: Celebrity ownership, racing history, or being the first/last of its kind; Condition: Originality, matching numbers, and restoration quality; and Cultural Significance: Cars that symbolize an era or innovation.

Final Thoughts
American cars have carved out a strong presence in the global collector market. While European exotics often dominate headlines, these top 10 sales prove that Detroit muscle, GM innovation, and Shelby performance still command respect, and serious money. Whether it’s a Tucker Torpedo or a GT40 Le Mans legend, these vehicles represent more than horsepower, they’re rolling pieces of American history.

(Greg Zyla is a syndicated auto columnist who welcomes reader interaction on collector cars, auto nostalgia and motorsports at extramile_2000@yahoo.com. Snail mail goes to Greg Zyla, Roosevelt Street, Sayre, Pa. 18840)