Published: Wed, January 22, 2020
Sport | By Kayla Schwartz

Corvette auctioned for $3m for charity

Corvette auctioned for $3m for charity

It's hard to say whether the long production delay caused by last autumn's strike at General Motors played a role, but the first street-legal version of the 2020 Chevrolet Corvette managed to land a $3 million winning bid at this weekend's Barrett-Jackson Auction.

Much like the Shelby Mustang GT500 and the first new-generation Toyota Supra that were auctioned, the proceeds of this Corvette C8 go towards charity; the Detroit Children's Fund, a non-profit organisation that invests in schools in Detroit. Its buyer? Rick Hendrick, NASCAR team owner and former racer himself.

"I am the number one Corvette junkie in the world", said Hendrick after the auction.

On top of the auto, Hendrick will also have the option of taking delivery at the Corvette factory in Bowling Green, Kentucky, and taking a hosted tour of the Corvette museum (which, let's be honest, he's probably done a few times already). Now in its 49th year, it regularly holds a special charity auction featuring one of the year's hot new products.

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General Motors says the history-making VIN #0001 mid-engine Corvette will be a black-on-black 3LT with the Z51 performance package. On top of that it will the performance recorder and GT2 seats.

Barrett-Jackson raised $7.625 million from nine vehicles during the 2020 Scottsdale sale, bringing the total raised on the auction block for charity to more than $126 million to date.

The auction served as the start of Barrett-Jackson's yearlong celebration of the "Road to 50", which ramps up to the Scottsdale auction's half-century in 2021.

"It was especially an honor to welcome GM CEO Mary Barra to the auction block to be part of the historic sale of the first retail production 2020 Chevrolet Corvette". Called "the jewel in the center", the Corvette's naturally aspirated V8 engine is attached to an 8-speed, dual-clutch transmission capable of 495 horsepower and 470 ft/lbs of torque - the most horsepower and torque for any entry Corvette. According to, the 2020 Corvette has already completely sold out the roughly 40,000 units scheduled for production this year. The unofficial cumulative total for those auctions was $244.1 million.

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