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The first 2020 Chevy C8 Corvette just sold for $3 million at Barrett-Jackson

All proceeds will go to the Detroit Children's Fund, a nonprofit focused on bettering the schools of Detroit.

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This isn't the actual Corvette that the lucky buyer will receive, though.

Daniel Golson/Roadshow

As Chevrolet prepares to start production of the 2020 C8 Corvette Stingray, it auctioned off the very first one at the Barrett-Jackson auction in Scottsdale, Arizona, on Saturday. VIN 001 hammered for $3 million, a whole lot more than the C8's base price of $59,995. But all that extra money isn't just for bragging rights. All proceeds from the sale will go to the Detroit Children's Fund, a nonprofit organization focused on increasing the quality of schools and education in the Detroit area.

While the car at the actual auction is painted red, it's just a placeholder. The real No. 001 hasn't been built yet, but Chevrolet says it'll be a fully loaded black-on-black coupe in 3LT spec equipped with the Z51 package. This build echoes the final C7 Corvette, which was a black-on-black Z06 coupe that sold for $2.7 million last fall. The auction winner will be able to pick the 'Vette up at Chevy's Bowling Green, Kentucky, factory and get a tour of the Corvette museum. The winner will also receive artwork of the car and a certificate of authenticity.

After being delayed due to the UAW strike, production C8 Corvettes should finally start rolling off the assembly line soon, with first deliveries expected to happen in March. Chevy says that while the 2020 model year of the car hasn't officially sold out yet, the company has received over 37,000 reservations for the car -- and that might not include the convertible, as order books just opened for the droptop model this week.

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That's a big check.

Daniel Golson/Roadshow
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