Is a 2023 Chevrolet Corvette Z06 Really Worth $3.1 Million?

  • The first Corvette Z06 has been sold for $3.1 million
  • Richard Hendrick, NASCAR team owner, says it’ll join his other VIN #0001 Corvette
  • All proceeds from the auction go to Operation Homefront, a charity focused on vets

So, let’s say you hit the lotto today. C’mon. You’ve thought about it. But let’s say you do. Would you pay $3.1 million dollars for a Chevrolet Corvette? No? What about the first C8 2023 Chevrolet Corvette Z06, VIN #0001? Clearly, someone thought it was worth it. But this isn’t some story of someone with too much money spending it on something dumb. This Z06 was auctioned to benefit a charity: Operation Homefront.

A yellow 2023 Chevrolet Corvette shot with a check made out to charity Operation Homefront
All proceeds from the auction go to Operation Homefront | Chevrolet

2023 Chevrolet Corvette Z06 VIN #001 sells for $3.1 million

The first production C8 Corvette Z06 was sold for all that money in Scottsdale, Arizona at Barrett-Jackson. This isn’t the first time that Chevy has sold off a mid-engined Corvette to benefit charity. Back in 2019, the first C8 Corvette Stingray was sold off to benefit the Detroit Children’s Fund. But the similarities go much deeper than that.

See, the owner of said VIN#0001 C8 Corvette is the very same man who bought this 2023 Corvette Z06: NASCAR team owner Rick Hendrick. Frankly, this is par for the course for Mr. Hendrick. Hendrick has a huge Corvette collection, one of the largest in the world. Obviously, NASCAR team ownership isn’t the only way Hendricks is able to afford to shell out that kind of cash. He also owns ninety auto dealerships.

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All proceeds from the Z06 auction benefit Operation Homefront

A yellow Corvette Z06 on the auction block at Barrett-Jackson
The first Z06 on the block at Barrett-Jackson | Chevrolet

So, let’s talk about what Mr. Hendrick’s $3 mil. went to. The Charity is called Operation Homefront. They’re a charity organization that works “to build strong, stable, and secure military families.” Operation Homefront provides financial assistance and housing programs to vets, as well as support services like vet support groups and therapy. Needless to say, it’s a solid cause that’s getting this $3.1 million dollar check from GM and Hendrick.

Back to the 2023 Chevrolet Corvette Z06. Obviously, this couldn’t just be any ol’ C8 ‘Vette (Hendricks has already got one of those). The new Z06 has the first flat-plane crank V8 fitted to a production Corvette ever and produces 670 hp. It’s Ford vs. Ferrari all over again, only this time it’s GM setting their sights on Ferrari. The Corvette Z06 that was auctioned off was also a 70th Anniversary Edition Z06, fitted with special two-tone seats, branded luggage, and a host of other visual changes.

Corvette Z06 prices are sure to be crazy off the bat

A black Z06 shot from a high profile angle with the roof off
The Z06 Corvette 70th Anniversary | Chevrolet

Frankly, this isn’t the last high-dollar Z06 we’ll see. There’s four-year waitlists for the Z06 already, and demand is, in a word: rabid. Mark my words, we’re going to watch as models sell for close to $200,000 on auction sites shortly after the first models reach customers. At least with this one, we know the money spent went to a great cause.

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