The first production C8 Corvette went for an impressive $3 million at Barrett Jackson’s 2020 Scottsdale Auction

The 2020 Chevrolet Corvette Stingray C8 is living up to the hype after the first-production model carrying VIN 001 sold for a staggering $3 million at the Barrett-Jackson auction in Scottsdale, Arizona. Hendrick Companies founder and CEO Rick Hendrick placed the winning bid, adding what could be one of the most desirable Corvettes in history to his extraordinary collection of American performance cars.

The first-production Corvette Stingray C8 also becomes one of the most expensive Corvette models ever sold at auction, trailing only a handful of classic ‘Vettes, including a 1967 Corvette L88 Coupe that still holds court as the most expensive Corvette ever sold in an auction setting. It fetched $3.85 million back in 2014, coincidentally, at the same Barrett-Jackson auction that the first-production Corvette C8 was sold.

What are the five most expensive Corvettes ever sold at auction?

The most expensive Chevrolet Corvette ever sold in an auction setting is a 1967 Corvette L88 Coupe.

That super limited model — only 20 L88s were built — fetched $3.85 million at the Barrett-Jackson in Scottsdale, Arizona back in 2014. A year before the Corvette L88 Coupe set the record, a 1967 Corvette L88 Convertible sold for $3.4 million owing to its uniqueness and racing pedigree. Another Corvette L88 sits in third place in the list of most expensive Corvette models ever sold. This particular L88 — another convertible, mind you — sold for $3.2 million, also in 2013.

As for the fourth-most expensive Corvette ever to sell in an auction? Well, the 2020 Corvette Stingray C8 now occupies the spot, beating a 1969 Corvette Corvette Rebel Convertible, which previously occupied fourth place in this list after selling for $2.86 million some years back.

It is incredible to think that the 2020 Corvette Stingray C8 now belongs in the list of most expensive Corvettes ever sold at auction. Then again, the 2020 Corvette Stingray C8 is different for a number of reasons.

What’s so special about the first-production Corvette C8?

The First Production 2020 Chevy C8 Corvette Just Became the Fourth Most Expensive Vette Ever Sold at Auction
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So, what’s so special about the first-production 2020 Chevrolet Corvette C8 to justify the $3 million that Rick Hendrick paid for it?

Let’s start with the obvious. As the first-production model, this 2020 Corvette C8 carries VIN 001.

That VIN number happens to be the most desirable number among collectible cars, largely because of its stature as the first-production unit of a specific model.

From a specs perspective, the first-production 2020 Corvette Stingray C8 was built in the 3LT trim. More importantly, it’s loaded with all the available options that Chevrolet is offering with the model, including a Z51 performance package. It’s dressed in a black exterior to go with black GT2 seats that come with red trim. The seatbelts are also red, adding to the cool black-and-red aesthetics of the sports car. It also comes with a removable roof panel and a rear spoiler, not to mention a performance data recorder, among other performance aids.

On the side of performance, the first-production mid-engine Corvette Stingray C8 is powered by a naturally aspirated 6.2-liter LT2 V-8 engine producing 495 horsepower and 470 pound-feet of torque.

An eight-speed dual-clutch transmission sends all that power to the rear wheels, helping the Corvette Stingray C8 accelerate from 0 to 60 mph in just 2.9 seconds with the Z51 package on its way to a top speed of 194 mph.

Chevrolet Corvette C8 specifications
Engine LT2, 6.2-liter, n/a V-8, mid-mounted
Power 490 hp, 495 hp w/ the Z51 pack
Torque 465 lb-ft, 470 lb-ft w/ the Z51 pack
Transmission 8-speed DCT
0-60 mph 2.9 s
Top speed 194 mph
Price tag $59,995

Rick Hendrick isn’t just taking home the first-production Corvette Stingray C8

The First Production 2020 Chevy C8 Corvette Just Became the Fourth Most Expensive Vette Ever Sold at Auction
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For a man who already has enough first-production cars in his collection, Rick Hendrick doesn’t really need any add-ons to go with the first-production 2020 Chevrolet Corvette Stingray C8, does he? Well, in case you’re wondering, Hendrick isn’t just going home with the car. By virtue of winning the auction for the first-production Corvette Stingray C8, Hendrick also gets the option of taking delivery of his mid-engine coupe at the Corvette plant in Bowling Green, Kentucky.

In addition, he will also receive a Letter of Authenticity, a unique artwork, and a hosted tour at the Corvette Museum. The letter and the artwork are cool, but I don’t think Hendrick’s going to need a hosted tour of the Corvette Museum anymore. If anything, he might be better suited to being the one to actually host it.

Rick Hendrick’s collection is badass

For those of you who aren’t familiar with the man, Rick Hendrick is the current owner of the Hendrick Motorsports NASCAR team.

He’s also the co-owner of JR Motorsports and is the founder of the Hendrick Automotive Group and Hendrick Marrow Program. Hendricks is also the father of Ricky Hendrick, a NASCAR driver who died in a plane crash back in 2004. In other words, Hendrick is a big deal in the world of NASCAR — he’s also going to be inducted in the Motorsports Hall of Fame of America on March 17, 2020 — and he also happens to be one of the biggest car collectors this side of the world.

In particular, Hendrick appears to be fond of first-production models, specifically those of the American performance car variety. In recent years, Hendrick has taken home the first-production units of models like the Chevrolet Corvette Stingray C7, Chevrolet Corvette Stingray Convertible C7, Ford Shelby Mustang GT350, and the Ford GT. Kendrick has also shown a proclivity for scooping up first-production units of non-American performance cars. Back in 2016, Hendrick paid $1.2 million to take home the first-production Acura NSX.

Now, Hendrick can add another first-production performance car to his growing list of models he owns in that category. At $3 million, the 2020 Chevrolet Corvette C8 Stingray sold for more than any of the other first-production cars in his growing collection. It was a steep price to pay — Hendrick could have bought a Bugatti Chiron with that money — but there’s a good chance that the first-production Corvette Stingray C8 ends up being the holy grail in his collection.

Where are the proceeds going to?

The First Production 2020 Chevy C8 Corvette Just Became the Fourth Most Expensive Vette Ever Sold at Auction
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Three million dollars is a lot of money. Fortunately, Rick Hendrick’s winning bid will be put to good use as all the proceeds from the sale of the first-production Corvette Stingray C8 will go to charity, particularly to the Detroit Children’s fund, a non-profit organization that makes targeted investments to benefit the entire Detroit school system. That’s a lot of money that’s going to be put to good use.

Kirby Garlitos
Automotive Aftermarket Expert - kirby@topspeed.com
Kirby’s first exposure into the world of automobiles happened when he caught Knight Rider on television as a five-year old boy. David Hasselhoff didn’t leave much of an impression on him (that happened later on in Baywatch), but KITT certainly did. To this day, Kirby remains convinced that he will one day own a car with the same ‘spirit’ as the original KITT (not the 2008 monstrosity). He doesn't know when that will be, but until then, he’s committed to expressing his love for KITT, and all cars for that matter, here at TopSpeed.  Read More
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