The First Ever 2020 Chevy Corvette C8 Fetches US$3 Million At Auction

The first retail production of the 2020 Chevrolet Corvette C8 has been auctioned off for a cool US$3 million. On January 19, Barrett-Jackson auctions in Arizona listed the Corvette at the starting price of US$200,000, but it quickly rose to nearly 50 times its retail value of US$59,995.

Purchased by Rick Hendrick, avid car collector and owner of NASCAR team Hendrick Motorsports, the entire hammer price of the sale will benefit Detroit Children’s Fund.

“Charity vehicles are the soul of our auctions,” said Craig Jackson, chairman and CEO of Barrett-Jackson in a statement. “Supporting the community was the purpose of the first event my family helped create almost 50 years ago. We’re proud of the funds and awareness we’ve been able to help raise. It was especially an honour to welcome GM CEO Mary Barra to the auction block be part of the historic sale of the first retail production 2020 Chevrolet Corvette.”

According to Barrett Jackson, the Vin #001 of the all-new 2020 C8 Corvette Coupe, is also first-ever mid-engine, delivering 495 horse power and 470 ft/lbs of torque, which will make it the most powerful Stingray ever. The engine itself has reportedly been transformed to sit lower to improve handling.

In terms of aesthetics, the special edition vehicle will sport a black exterior (despite the red car representative  shown at auction), black seats, red trim and seat belts on the GT2 seats, a removable roof panel, Performance Data recorder, and Z51 performance package.

In addition to the vehicle, Hendrick will also have the option of taking delivery of the Stingray at the Corvette plant in Bowling Green, Kentucky, with a hosted tour of the Corvette Museum woven into the itinerary.