Luxury Cars
Rick Hendrick Pays $3 Million Instead of $59,995 for the First C8 Corvette
Barrett-Jackson Scottsdale Auction sets the record with the auction of the first production 2020 Chevrolet C8 Corvette Stingray Coupe fetching $3 Million USD.
Over the years the Barrett-Jackson Scottsdale Auction has become a destination for buyers seeking to own a first production vehicle. The yearly auction has a tradition of offering first editions of new performance cars for charity. On Saturday January 18, at the 49th annual event, the rights to own the first-ever retail 2020 Chevrolet C8 Corvette Stingray Coupe VIN #0001 (Lot #3007), donated by General Motors (GM), went up for grabs.
GM CEO, Marry Barra, welcomed a packed house as bidders vied for the chance to own the black-on-black C8 Corvette loaded with every available option. The Red version of the car at auction was just a placeholder for the black one (VIN #001) that was being bid on, with the first offer starting strong at $200,000 USD. The final price hammered in at $3 million and the money raised given to the Detroit Children’s Fund (DCF) – a non-profit that supports Detroit’s schools.
“Reaction to the mid-engine Corvette was incredible,” said Barra, who was on the block to introduce the first production mid-engine Corvette. “It’s both humbling and exciting to harness that success and support the local community through the Detroit Children’s Fund.”
The lucky buyer was none other than Rick Hendrick, the collector and owner of NASCAR team Hendrick Motorsports, and co-owner of JR Motorsports, founder of the Hendrick Automotive Group and the Hendrick Marrow Program, who last year paid $2.5 million for a 2019 Ford GT Heritage Edition at the same auction.
“I am the number one Corvette junkie in the world,” said 70-year-old Hendrick in a press release from GM. “Thanks to Chevrolet and Barrett-Jackson, because they always pick charities that are so good and help so many people.”
Rick Hendrick received the keys from General Motors’ CEO, Mary Barra, at the completion of the auction. The VIN #0001 Chevrolet Corvette Hendrick will receive has the 3LT trim loaded with all available options. It will come with a black exterior, black seats with red trim, red seatbelts, GT2 seats, removable roof panel, and rear spoiler. There’s also a performance data recorder and Z51 performance package.
The 2020 C8 Corvette is markedly different to previous Corvettes with it being the first model to feature an engine behind the driver instead of under the hood. The new Corvette also recently won at the Oscars of the auto industry and was named the North American Car of the Year by a jury of automotive journalists.
The winning $3 Million bid entitles Hendrick the option of taking delivery of his new coupe at the Corvette plant in Bowling Green, Kentucky. He also gets a hosted tour at the Corvette Museum, a Letter of Authenticity, and a unique artwork.
“Charity vehicles are the soul of our auctions,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “Supporting the community was the purpose of the first event my family helped create almost 50 years ago. Over the years, we’ve supported medical research, funded education initiatives and provided money for programs that champion our nation’s military heroes and first responders.
This year’s auction also saw a 1981 Jeep CJ7 Custom SUV (Lot #3001) sold and re-donated on the block three times for a total of $425,000 raised to benefit Make-A-Wish Foundation. Special guest 13-year-old Make-A-Wish recipient, Will Wade, fulfilled his wish by accompanying Craig Jackson on the block and hammering in the final sale of the Jeep.
“There’s not a group of people more united in the drive to eradicate sickness, improve education and support our nation’s veterans than the collector car community,” said Steve Davis, president of Barrett-Jackson. “We’re so honored to be trusted by the world’s top car companies and consignors to help carry their missions of helping others. We take our stewardship of these charity cars very seriously and we’re grateful to have played a part in raising over $7 million dollars for these extremely worthy causes during our 2020 Scottsdale Auction.”
“All children deserve great schools,” said Jack Elsey, DCF’s executive director. “The proceeds from this auction will help improve public education in Detroit and, as a result, give thousands of young Detroiters a brighter future. We cannot thank General Motors enough for their commitment to DCF and the children of Detroit.”
The 2020 Chevrolet C8 Corvette Stingray Coupe was also the most expensive charity car sold at the week-long auction.