This was the first production Corvette. It was cool looking but, really, not such a big deal otherwise. It had a 150-horsepower 6-cylinder engine and a two speed automatic transmission. The car is poorly built and the 300 that were made that year were basically exactly alike. All had white exteriors with red seats.
They were the first ones, though, and that alone makes one of these worth a lot more than a 1954 car.
An association with actor McQueen can multiply the value of a machine.