A Chevrolet Corvette convertible has set a new record price at auction – $1 million, to be precise. That’s according to Top Speed, which featured details of the landmark auction in California.
The auction, held in Pebble Beach, California, saw an original first edition Chevrolet Stingray put up for sale. The convertible was up for auction when NASCAR mogul Rick Hendrick got involved. A famous Chevrolet Corvette fan, he stepped up the bidding to ensure he got the car he wanted.
Car auctions are a common way of selling showpiece cars. Special editions, one-offs and first issues models are often sold to buyers from the public and industry. Auctions can be the best way to maximize the selling price of a car, and these high profile sales exemplify how effective auction selling can be.”
This wasn’t the first time Hendrick has bid large amounts for supercars in public. His swoop for the first Chevrolet Stingray model took total outgoings to just shy of $2m.
Rick Hendrick is a self-confessed Chevrolet fan with money to burn. His passion for expensive sports cars is made even more intense by the desire to secure rare early production models. His last two high-profile auction successes have been with first issue models.
Like any limited edition collectors item, enthusiasts are willing to pay over the odds to complete the set. For Rick Hendrick and his auction adversaries, the bidding war that took the closing price through the $1m barrier could easily have continued as a battle of wills.
Lynchchevroletofmukwonago.com, which deals in new Chevrolet sales, said this landmark sale could set the tone for the next round of auctions. “People are always looking to make an impression at these auctions, and at the top end of the market everyone wants to own that elusive first edition.”
The Chevrolet that sold was a first issue Corvette Stingray model – the first ever car of its kind to be made. While the bidding was ultimately for a good cause, it was obvious that those raising the stakes were all keen to drive it home.
Fortunately, the auctions were being held in aid of charity. All the money raised will go directly to helping others.
Hendrick has bought vehicles at numerous supercar auctions in the past. A prolific owner of Chevrolet Corvette’s in particular, Hendrick’s portfolio doesn’t show signs of stopping.
A prolific charity buyer, Hendrick bough $300,000 worth of Corvette Z06 Carbon Edition in 2011, helping the victims of natural disaster in Haiti in the process. His next target, a Camaro ’69, cost a further $250,000 amidst a competitive field of bidders – again, for charity.
This latest Chevrolet purchase completes a set of two at roughly $1m each, in what are some of the most expensive car buys in history. While Hendrick is contributing heavily to the charities supported by these auctions, he is also in it for the pleasure of driving some of the world’s most beautiful and meaningful cars.
Image source: Netcars Show