As the hype surrounding the mid-engine Chevrolet Corvette C8’s imminent arrival goes into overdrive, let’s pour one out for the departing Chevrolet Corvette C7, the last front-engine Corvette — for now, at least — in the nameplate’s storied history. Given its potential historical significance, It goes without saying that the last-production model would be a must-have model among Corvette aficionados and enthusiasts. Well, that’s precisely what happened because this specific model went up for auction at the Barrett-Jackson Northeast Auction in Connecticut over the weekend and sold for a staggering $2.7 million, becoming one of the most expensive Chevrolet Corvettes sold in an auction in history. All the proceeds from the sale of the final-production Corvette C7 are expected to go to the Stephen Siller Tunnel to Towers Foundation's Smart Home program, an organization that aims to build mortgage-free homes for the catastrophically injured veterans.
Production of the Chevrolet Corvette C7 is ending, and, as is often the case with “significant” Corvettes of recent years, the final-production Corvette C7 found its way to an auction house where it sold for eye-watering sums of money.
Let’s put the rather shocking amount in perspective, at least compared to other recent Corvettes that were sold in an auction setting. The first-production, C7-generation of the Corvette ZR1 went up for auction at another one of Barrett-Jackson’s events last year and sold for $925,000. Back in 2013, NASCAR team owner Rick Hendricks spent a little over $2 million when he won the first production versions of the Chevrolet Corvette Stingray and the Chevrolet Corvette Stingray Convertible in two separate auctions. Even the first-production units of special edition Corvettes aren’t immune to the auction block. At the same auction last year that the first-production Corvette ZR1 sold for almost $1 million, Chevrolet also sold the first-production Corvette Carbon 65 Edition for a whopping $1.4 million.
Looking at these numbers paints a clear picture of how much these Corvettes go for in an auction setting. Somewhere in the vicinity of $1 million to $1.2 million is possible, maybe even expected. Those figures alone are incredible enough considering that standard-production Corvettes only cost anywhere from $55,000 for a base Stingray model to around $120,000 for the range-topping Corvette ZR1.
The answer is rooted, not on what this specific model is today, but on what it can be as one of the most historically significant Corvettes. See, this isn’t your typical generation-specific, last-production Corvette. This is the last-production, front-engined Chevrolet Corvette. That’s not just a big deal; that’s a huge deal. Ever since its arrival in 1953, the Chevrolet Corvette has always been a front-engined, rear-drive, two-door sports car. Chevrolet has never deviated from that formula, in part because it wanted the Corvette to remain true to its roots. For 66 years, that’s been the case. Of course, we all know that the arrival of the C8-generation Chevrolet Corvette ends that incredible run. The next-gen ‘Vette will not only become the first Corvette to feature a hybrid powertrain — the range-topping version will occupy this space — but it’s also the first Corvette ever to come with a mid-engine layout, adopting a setup that most European supercar makers have been using for generations.
Granted, I still think the winning bidder, who won through phone bids, overpaid for the final-production Corvette C7. The sports car itself doesn’t really stand out like, say, a special edition model like the Corvette Carbon 65 Edition did when it went up for auction last year. The specs of the model are fixed, and the features and attributes aren’t particularly news-worthy. It’s a Corvette Z06 with a black paint finish and a carbon fiber roof and splitter. Inside, red leather dominates the proceedings. There’s also a performance data recorder and a whole suite of technological features, including an upgraded MyLink touchscreen display with navigation, and Apple CarPlay and Android Auto compatibility. It also comes with a 3LZ trim package, so the model comes with perforated Nappa leather seats and a custom leather-wrapped interior package w/leather-wrapped upper instrument panel, door trim, and console storage cover. A suede microfiber-wrapped upper interior package with headliners, visors, trim above windshield, rear window, and the A-pillar trim area around the quarter window are also included in the 3LZ package.
And, of course, there’s the 6.2-liter LT4 V-8 engine that produces 650 horsepower and 650 pound-feet of torque.
We can legislate all day whether the $2.7 million price tag is excessive, but at least we know that all of it is going to a worthy cause. As I mentioned, the proceeds of the sale of the final-production Chevrolet Corvette C7 will go directly to the Stephen Siller Tunnel to Towers Foundation's Smart Home program, an organization that builds mortgage-free homes for the catastrophically injured veterans. These smart homes are specifically designed to address the unique needs of each injured veteran. Seems like a solid place to spend $2.7 million, don’t you think?
Further reading
Read our speculative review of the 2020 Chevrolet Corvette Zora ZR1
Read our full review of the 2019 Chevy Corvette ZR1
Read our full review on the 2019 Chevrolet Corvette Z06.
Check out our full review of the 2014-2019 Chevy C7 Corvette
The 9 concepts that led to the mid-engined Chevrolet Corvette C8