Chevrolet spent over $1.5-million on the Corvette project. It was unveiled in 1953 in the ballroom of New York's Waldorf=Astoria. It had style but lacked performance. Other shortcomings were its leaky side curtains and lack of wind-up windows. As a result only 2,500 examples were produced in 1954; expectations had been at least 10,000 units.
In 1955 Chevrolet made the necessary changes and fitted it with a much-need V8 engine; it was offered as optional equipment for the sum of $135. The 265 cubic-inch V8 unit was fitted with a Rochester four-barrel carburetors and produced nearly 200 horsepower. Other optional equipment offered in 1955 included a parking brake alarm, signal-seeking AM radio, windshield washer, and heater.
Most of the Corvette's that left the factory in 1955 had the V8 engine. This Corvette is the 646th example of the 700 produced in 1955. It is an original, matching number example that has just 41,790 miles on its odometer. It is painted in red paint that is about 25 years old and fitted with a white interior.
In 2008 it was brought to the Automobiles of Amelia presented by RM Auctions where it was estimated to sell for $80,000-$100,000. It was offered without reserve and sold for a high bid of $83,600 including buyer's premium.