The first example of the new 2020 Chevrolet Corvette Stingray just sold at auction for $3 million

Brittany Chang

Jan 22, 2020, 21:58 IST

The first example of the new 2020 Chevrolet Corvette Stingray just sold at auction for $3 million

The 2020 Chevrolet Corvette Stingray.

The very first 2020 Chevrolet Corvette Stingray just auctioned off for $3 million at Barrett-Jackson's 2020 Scottsdale auction.
The car was sold to car collector, former NASCAR driver, and current NASCAR team owner Rick Hendrick, Motor1 reported.
The 2020 Corvette 3LT Convertible starts at $78,945, which means the $3 million achievement is 38 times the car's MSRP.
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The first 2020 Chevrolet Corvette Stingray just auctioned off for $3 million at Barrett-Jackson's 2020 Scottsdale auction.

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 drove the vehicle onto the auction block, Motor Authority reported. The money achieved 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, Motor1 reported.

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.

It comes with all of the available options, including a leather instrument panel and doors, and an upper trim of "sueded-microfiber" inside.

Barrett-Jackson claims it's the “most powerful production Stingray ever.”

The 6.2-liter V8 engine with eight cylinders gives the car a 495 horsepower and a 470 foot-pound of torque. It also has a top speed of 194 mph and a zero-to-60 time of 2.9 seconds.

is the first mid-engine Corvette ever to be produced.

The car has a rear spoiler and a removable roof panel.

The exterior is black, and the interior — including the seat belts — is red with black seats.

The rest of the 2020 Corvettes are scheduled to be built in the first quarter of 2020, according to Barrett-Jackson.

The car is a "no-compromises powerhouse that's been architecturally transformed to sit lower for improved handling," Barrett-Jackson claims.

The vehicle also comes with a letter of authenticity and "unique artwork," the auction house says.

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