Paul Newman's Corvette-powered Volvo wagon is a fast and famous family car for sale

A 1998 Volvo V90 station wagon with a Corvette engine that belonged to actor and racing driver Paul Newman is being auctioned by RM Sotheby's.

Newman's 1988 Volvo 740 sold for $80,740. (Bring A Trailer)

One of these, a 1988 Volvo 740 powered by a turbocharged V6 from a Buick Grand National muscle car, was auctioned in March for $80,740, which is $20,000 more than the starting price of a new Volvo wagon today.

The 1998 Volvo V90 has a GM crate V8 similar to the engine in the Corvette. (RM Sotheby's)

The 1998 V90 "Volvette" has a 6.0-liter V8, like the contemporary Chevrolet Corvette's, with around 400 hp, more than twice that of the stock V90's straight-six.

Newman's team affixed a plaque to the dashboard. (RM Sotheby's)

A plaque affixed to the dashboard reads: To PLN. This Should Get You To The Grid On Time. From The Team. 

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The vehicle was gifted to Newman in 2007, the year before he died at 83.

Newman used the Volvos as daily drivers. (RM Sotheby's)

The car is now being offered for auction by RM Sotheby's as part of a collection of Newman's automotive artifacts, which includes the trophy he won for finishing first in class at the 1997 Daytona 24 Hours at the record age of 70.

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The pre-auction estimate for the car was just $20,000 to $25,000, but online bidding had already reached $40,000 at the time this story was published and is not scheduled to close until June 13.

Gary Gastelu is Fox News Digital's automotive editor.