Filed under: Coupes, Sports/GTs, Auction Action, Chevrolet
Barrett-Jackson 2008: First production Corvette ZR1 goes for a cool million
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The automotive world waited what seemed like forever to get its first look at the 2009 Corvette ZR1, but one lucky bidder won't have to wait any longer to get into the driver's seat. The "first retailable unit built" ZR1 was snapped up with a final bid of $1,000,000, not including auction fees. The winning bidder, Dave Ressler, also bought the oldest available 1953 Corvette just a couple years ago at Barrett-Jackson for the exact same price. While the ZR1 on stage was not the actual one purchase, Ressler will get a one-of-one Le Mans blue version that no one else will get. All of the proceeds from the sale benefited The United Way, and everything over the $99,999 list price of the ZR1 will be tax deductible. Not a bad way to spend a million bucks!
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Reader Comments (Page 1 of 2)
Keith Cornett 1:08AM (1/20/2008)
What a great auction to watch. Leno did an awesome introduction as only he can deliver as a car guy. Ressler was awesome donating the extra money to United Way.
I think dealers will be upsizing their Market Adjustments when ZR1 arrives this summer.
I uploaded the video of the auction if anyone missed it. You can see it at http://www.corvetteblogger.com/index.cfm/2008/1/19/BarrettJackson-08-VIDEO-1st-2009-Corvette-ZR1-Sold-for-1-Million
A great night for Corvette!
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HotRodzNKustoms 1:22AM (1/20/2008)
Fantastic
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Mobius_1 1:22AM (1/20/2008)
King of the Hill!
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tankd0g 1:22AM (1/20/2008)
Does GM get that money? Maybe if they just keep making new models and selling the first one off the line at BJs they'll be profitable!
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RLQ 2:02AM (1/20/2008)
LOL, but not a bad idea.
Nick 1:58AM (1/20/2008)
The entire sale was done at no profit for anyone, all money went to the charity.
Derek 9:03AM (1/20/2008)
Wow, only six sentences in the article and people still don't read all of it? Next to last sentence has your answer. I will say that is an interesting idea though, however I don't think the first production 2008 Aveo will fetch quite as much...
tankd0g 5:17PM (1/20/2008)
Ok Derek, does GM get the write off (what's the difference?)
why not the LS2LS7? 2:05AM (1/20/2008)
I find it sad that sites keep giving free publicity to those blood suckers at B-J.
Overpaying for cars like this just makes it tougher for actual car guys to buy good old cars, and brings more boneheads whose only notable attribute is the size of their wallets.
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CW 2:41AM (1/20/2008)
Bloodsuckers at BJ? Boneheads with fat wallets?
First of all, you've obviously never been, because even as a non bidder, the auction itself is an AMAZING car show. As a bidder, it gives you access to vehicles from across the country that you otherwise would not find.
I would hardly call any of these people boneheads, much less Dave Ressler. I think most, if not every, Carrol Shelby auction donates all proceeds to charity, as well as every "new model" auction this year.
BJ, even on TV, is great entertainment. Thinking that high rollers with fat wallets drive up the price of vehicles for average joe is ridiculous. The QUALITY of [most] of the vehicles up for auction make them far and above out of average joe's price range, not the people buying them.
why not the LS2LS7? 3:37AM (1/20/2008)
It doesn't matter if the money soaked from these people goes to charity.
And if you think these high-dollar prices isn't jacking up the cost of these cars to the average joe, what do you attribute the ridiculous rise in the price of these cars to?
Yes, the quality may be up, but these very well-restored cars have to be purchased un-restored from someone, this also works to cut down the availability of affordable cars.
CC 2:34AM (1/20/2008)
now that's a fine looking car
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Dave 2:44AM (1/20/2008)
Considering that the car was purchased at market value (an auction certainly demonstrates market value), the IRS could (and probably should) question the deductibility of the price.
It is GM that is entitled to the tax deduction.
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Ben 3:02AM (1/20/2008)
Yes, but it is explicitly stated that all profits will go to charity. The ZR1 was sold with a listed base price, and the fact that most of them will sell much closer to the base price than the auction price, it shouldn't be contested. Both the GT500KR and SRT-8 were only the rights to buy those cars at sticker price. So even after they pay $400,000 for the Dodge Challenger, they still have to pay the sticker price to own the car.
Calling these three "auctions" is a bit difficult. It is contest to show who can make the biggest donation, go without $XXX,XXX dollars for a few months, and then get it back in a deduction.
Mr. Oak 2:56AM (1/20/2008)
To the haters near and far. This car is absolutely georgeous. Quit whining about the window in the hood, it was well executed and looks great. It is now a characteristic of this car, like it or not.
I especially loved when Jay Leno, a man who can afford to buy any car on the planet, or have any car he cannot buy built, spoke so beamingly about his Z06. His ultra reliable daily driver. Basically he said, that when it came to high performance sports cars there is Corvette and Porsche. Expect trouble from everything else.
Excellent job by the General on this a$$ kicking wonder. No other car manufacturer could have put this package together, especially at this price.
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chris 3:21AM (1/20/2008)
I think you accidentally typed 'georgeous' [sic] instead of 'completely rice'. This is easily the worst looking of all versions of the C6, the wheels and that window thing are an absolute joke.
Derek 9:03AM (1/20/2008)
Chris, you're sure looking good in your self portrait/avatar.
Matt 9:19AM (1/20/2008)
Yes! Hi-five Chris! They put way too much extra crap on this car.
Franz 3:17AM (1/20/2008)
If you've got a million to spend on a car, then more than likely there's plenty more where that came from. If you haven't, don't bitch about it. To each his own. I think it's cool... especially since the money went to charity. But even if it didn't, I could care less. No one on this earth can tell me how to spend my money, so I don't think I'd try to tell anyone else how to spend theirs.
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ansky 3:04PM (1/20/2008)
yeah...grrr.
you tell em.