Saturday Night at the Barrett-Jackson Auction in Palm Beach, Rick Hendrick of NASCAR fame purchased the first retail (VIN 001) 2011 Corvette Z06 Carbon limited edition. The hammer price was $270,000 and with buyers commission, the total sale was $297,000. Rick will be able to tour the GM Performance Build center in Wixom as well as watch the assembly of his new Corvette Z06 later this summer in Bowling Green.
Auctions & Results
The C4 version of the Corvette ZR-1 was nicknamed “The King of the Hill” for good reason. At a time when the standard Corvette’s horsepower was 245, the 1990 Corvette ZR-1 was powered by the new 375-horsepower LT-5 V8 which featured a 32-valve dual overhead cam. Looking back today, Corvette’s return to the world stage of sports car performance can be directly attributed to this special edition.
When we published the final production numbers for the 2009 Corvettes, we said thirty years from now Corvette collectors would be seeking out the GT1 ALMS Championship and the Competition Sport Editions due to their low production numbers. Actually, it only took one year as this 2009 Arctic White Competition Sport Coupe sold for more than its original MSRP and became the top seller on Day 1 of the 2010 Barrett-Jackson Palm Beach auction.
The Barrett-Jackson Collector Car Auction this weekend in Palm Beach sort of snuck up on me so I’m sorry I didn’t get the schedule published sooner. The Palm Beach auction features 48 Corvettes and 1 Corvette-powered boat. The three day auction is being carried on the SPEED network and you’ll also be able to watch online. Like always, we’re working with SPEED to bring you some of the best and most interesting auctions.
RM Auctions held their Collector Cars of Fort Lauderdale event last weekend which featured 36 Corvettes. Auction results show 23 of the 36 Corvettes were sold for a sales success rate of 64% and total sales topped $1,186,700. Many of the Corvettes came from the estate of collector John O’Quinn and those were sold without reserve.
In addition to the hood from the #4 Corvette C6.R that was sold for $3,000, several other parts from the race cars were auctioned by Corvette Racing’s Doug Fehan and Ambassador Ron Fellows at the Corvette Corral at the 12 Hours of Sebring. The money raised was donated to Motorsports Ministries, an organization offering non-denomination services at the track since 1985.
[VIDEO] Corvette Racing Auctions a C6.R Hood at the 12 Hours of Sebring
[VIDEO] Doug Fehan’s Corvette Racing Presentation at the 2010 12 Hours of Sebring
[VIDEO] Interview with Corvette Racing’s Doug Fehan at Sebring
Corvette Racing’s Doug Fehan and Ambassador Ron Fellows auction the hood of the #4 Corvette C6.R at the Corvette Corral at the 12 Hours of Sebring. The money raised was donated to Motorsports Ministries, an organization offering non-denomination services at the track since 1985.
RM Auctions is holding their Collector Cars of Fort Lauderdale auction this weekend. Over 30 Corvettes are scheduled for the auction with some of the featured lots coming from the estate of automobile collector John O’Quinn. One of these is Lot #740, a 1955 Corvette roadster featuring one of the most unique aftermarket accessories ever made for the early C1 Corvettes: A removable “bubble top” hard top.
The first retail 2011 Corvette Z06 Carbon Limited Edition will be auctioned to the highest bidder at Barrett-Jackson’s Collector Car Event in Palm Beach, Florida on April 3rd. The Winning bidder will also be able to tour the GM Performance Build Center in Wixom, MI where the hand-built LS7 and LS9 engines are assembled and the winner can watch the car be assembled at the Corvette Assembly Plant in Bowling Green.
Talking with many longtime Corvette collectors and dealers, there is one thing we can finally all agree on: This market sucks for Corvette values. Like the banking, housing and automotive sectors, the effects of this stagnant economy have finally permeated down to the collector car market which includes Corvettes. But for buyers (and we know you are out there) there couldn’t be a better time to make that purchase than right now. But you need tools and research to make an informed buying decision and so we are pleased to announce the availability of the 2010 Corvette Pricing Guide.