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First production 2020 Chevy C8 Corvette auctioned off for $3 million

With its actual base retail price of just under $60,000, the Chevy C8 Stingray was bought for more than $2.9 million over value.

During the summer of 2019, Chevrolet announced the eight-generation drop-top version of the iconic American sportscar, the 2020 C8 Corvette Stingray. Though the model was supposed to go into production by the end of the year, it was delayed until February 2020 due to an employee strike. Despite the fact that the first production model hasn’t even been built yet, it was already on the slate at the auction house and sold for millions over its actual base retail price of $59,995.

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Temporarily holding the place of the first production Stingray, which was sold off for a whopping $3 million during a Barrett-Jackson classic car auction in Scottsdale, is a vibrant red version of the model; the official vehicle will be a black 3LT variant that’s outfitted with the Z51 package.

That’s the model that self-proclaimed Corvette-junkie and Nascar race team owner Rick Hendrick, the winning bidder, will receive; matching well with the spoils of another fundraising auction Hendrick won, the final C7 Corvette to be produced, already in his garage.

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Fortunately, those extra millions are not for profit but will instead be donated to the Detroit Children’s Fund, a nonprofit organization with a mission to improve schools and education in Detroit. The funds will also aid in the expansion and retention of teaching talent and leadership.

The C8 ends six decades of front-engined Corvettes. It is the first to feature a mid-engine design, a decision that promises to crank that performance needle ever forward – and ire motorheads wary of losing that classic all-American touch. Regardless, it’s a supercar that doesn’t compromise on what matters most – terrific handling; a pretty interior and prettier exterior; and sheer, exhilarating speed.

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The 2020 C8 Corvette will finally be rolling off the production line next month, while customer deliveries are expected to start in March.