2020 Chevrolet C8 Corvette Stingray Coupe sells for $3 million at Arizona auction

A 2020 Chevrolet Corvette Stingray, the first-ever mid-engine Corvette, sold for $3 million in an auction to raise money for Detroit children.

It is the top seller so far this week at the Barrett-Jackson car auction in Scottsdale, Arizona.

The proceeds will benefit the Detroit Children’s Fund, a nonprofit organization that works to grow the number of quality schools in Detroit.

Auction shot up to $1 million in less than a minute

The auction started at $250,000 but shot up to $1 million in less than a minute.

The crowd got on its feet as the bidding war continued, with the price reaching $2 million in about two minutes.

Rick Hendrick, owner of NASCAR team Hendrick Motorsports and an avid car collector, made the winning bid.

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The money will be put toward educational purposes, Tonya Allen, president and CEO of Detroit Children’s Fund, told Barrett-Jackson after the sale.

The sale marks the most expensive charity car sold this week at Barrett-Jackson.

A 2021 Lexus LC 500 Convertible Inspiration Series VIN 100001 sold for $2 million on Friday. All proceeds benefit the Boys & Girls Clubs of America and the Bob Woodruff Foundation.

Other cars sold this week that benefited charities included a 1974 Ford Bronco that was commissioned by NASCAR driver Ryan Blaney and built by Gateway Bronco as a tribute to his late grandfather, race car driver Lou Blaney.

In total, the charity cars raised about $7.6 million for various causes during the auction.

But the Corvette’s sale was extra special for Barrett-Jackson CEO Craig Jackson.

Jackson told The Arizona Republic that he was born in Pontiac, Michigan, and both of his parents worked for General Motors. (READ MORE)