First 2020 Corvette Sells For $3 Million

from Business Insider

Only one part of the Corvette remains the same from its prior generation, according to Chevrolet, and the winner also receives a guided tour of the Corvette Museum in Bowling Green, Kentucky.

“When you completely reimagine a car as iconic as Corvette, you get a beautifully sculpted mid-engine sports car that makes a powerful statement,” the automaker says.

General Motors CEO Mary Barra was on hand for the auction. The money from the car’s auction will go to benefiting the Detroit Children’s Fund, a non-profit that was created to help improve Detroit school qualities.

The first car off the production line for highly anticipated models is often auctioned by the manufacturer for charity as it is prized by collectors.

“DCF investments support the expansion quality schools public schools; the improvement of lower-performing schools; the development, retention, and recruitment of educators; and city-wide initiatives that support school quality,” Barrett-Jackson wrote in a statement.

The final winning bid was put down by car collector, former NASCAR driver, and current NASCAR team owner Rick Hendrick, GM said.

This isn’t the auction house’s most expensive and outstanding Corvette auction achievement: in 2014, a 1967 L88 Corvette Coupe achieved $3.85 million during an auction. The convertible 2020 Corvette 3LT starts at $78,945. This means the $3 million achievement is 38 times its MSRP.

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