First 2020 Chevrolet Corvette Stingray Sold For Staggering $3 Million

We've known for a few months the first production2020 Chevrolet Corvette Stingraywasheading to auctionand now it's taken place at the Barrett-Jackson event in Scottsdale, Arizona. When all was said and done, C8 Corvette VIN 001 hammered for $3 million, a heck of a lot more than the model's $59,995 base price. As is customary with auctions like this, all proceeds are going to charity and in this case, the Detroit Children's Fund, a non-profit organization working to increase the quality of schools and education in the Motor City.

The red C8 presented on the auction block is actually not the exact vehicle sold, but rather it's a placeholder show car. In reality, VIN 001 hasn't been built yet, but Chevy says it will be a fully loaded black-on-black 3LT coupe equipped with the Z51 package.

The black-on-black colors were not randomly chosen; the final C7 Z06 coupe, itselfselling for $2.7 millionlast summer, also had that combo. Reports claim C8 VIN 001 bidding started at $200,000 and very quickly hit the $1 million mark. When all was said and done, NASCAR team owner and long-time car collector and auction winner, Rick Hendrick, placed the highest bid.

Hendrick will also have the privilege of picking up his completed new Corvette at Chevy's Bowling Green, Kentucky factory and receive a tour of the official Corvette Museum nearby. He will also receive artwork of the car and a certificate of authenticity.