Craigslist-land is a wacky place. From crazies, to no shows, to folks literally killing each other over diamond rings. If you’ve ever had a garage sale, with early bird “pickers” hovering about, you know that sifting through other people’s cast-offs and garbage brings the loons out of the woodwork. Or what about the guy with the metal detecter that spends all day at the beach searching for lost treasure.

Well maybe these folks are on to something.

According to Hagerty, the following ad showed up on Craigslist: ”Serial # X53L on documented 1953 pre-production Corvette frame. We believe this to be a 1953 Pontiac prototype that was to assume the name Longoria? Info received to date indicates that Zagato designed and Pininfarina constructed the body for GM in late 52.”  Hmmm. Sounded interesting, and at $700 dollars, a deal.”

Even though the ad was steeped in interesting GM folklore, most of it was inaccurate.

What the car turned out to be was the famed Briggs Cunningham Corvette, 1 of just 3 built.

Racer Cunningham brought 3 cars to the 1960 24 Hours of Le Mans and took turns leading the race and delighting European fans with the thunderous roar of their V-8 engines. Numbers 1 and 2 failed to place, but number 3 did, winning its class and a permanent place in Corvette history.

It was expected the cars would be enshrined somewhere after the race, but Cunningham returned them to street cars and peddled them through a Chevy dealer. After that, the cars were AWOL for a number of years.

Number 3 was rescued first and restored by the late Chip Miller. Number 2 surfaced in a California boneyard a few years ago; it was eventually bought and restored by collector Bruce Meyer, a collector and Petersen Automotive Museum guru. Number 1 proved elusive until a few years ago, when it was discovered on Craigslist.

And that’s when things got ugly. A years-long battle over ownership ensued. Fast forward to today and the Corvette—now confirmed as the Number 1 Cunningham Corvette, is owned by Gino Burelli, an Indiana car dealer.

Under terms of a 2015 legal agreement, Burelli will commission noted Corvette restorer Kevin Mackay to bring the car back to its original state. Mackay restored Miller’s Number 3 Corvette, so he’s up to speed on its historical significance.

The restoration could take a year and cost more than half a million dollars. As of today, the car is in Burelli’s possession, but in limbo awaiting final payment agreed upon in the legal settlement.

What’s this thing worth?  Word on the street are it’s estimated to fetch somewhere around $7 million dollars.

Where this car has been hiding for the last 50 years is unclear at this point, but it appears it might have seen use as a drag car. Its blue-on-white racing livery was replaced long ago by sagging purple paint applied with a paint brush. Most key components are long gone.

The good news is Mackay says he has molds and spare parts left over from his restoration of Miller’s #3 Corvette to bring the car back to it’s former glory.

So there you have it, the saga of a unicorn ‘Vette and how these old cars show back up in the world.

Now, we gotta run, time to scour Craigslist.