Rick Hendrick sat in a skybox on Saturday, high above a crowd of thousands at the Barrett-Jackson Scottsdale Auction in Arizona, eagerly anticipating the opportunity to own the first production model of the fastest production car in America.
On the stage below was the car he desired—a pre-production version of the 2025 Chevrolet Corvette ZR1, finished in sleek black with striking blue racing stripes and a massive rear spoiler designed to optimize aerodynamics and stability when reaching the car’s top speed of 233 mph.
Hendrick, a well-known Chevrolet dealer and NASCAR Hall of Fame team owner, casually raised one finger to initiate the bidding for what would become a production model with VIN 001, according to auction footage. Almost instantly, his $1 million opening bid was surpassed by a phone bidder, a Barrett-Jackson spokesperson confirmed. Within seconds, the bid soared to $1.5 million, then escalated to $2 million, $2.5 million, and eventually $3 million, as the competition intensified.
On January 25, 2025, the first retail production 2025 Chevrolet Corvette ZR1, bearing VIN 001, sold for $3.7 million at the Barrett-Jackson Scottsdale Auction. Every dollar of the sale will be donated to the American Red Cross. The winning bidder? NASCAR icon and Chevrolet dealer Rick Hendrick, who owns an extensive Corvette collection housed in his private garage in Concord, North Carolina.
The charity aspect of the auction was a given, as proceeds were destined for a worthy cause, a tradition at these events.
“NASCAR Hall of Famers Tony Stewart and Jeff Gordon are cheering them on … who’s going to win it?” the announcer asked the crowd. Gordon, who raced for Hendrick Motorsports from 1992 to 2015, now serves as the vice chairman of the organization.
As the bidding war concluded, the auctioneer’s voice rang out: “$3.7 million … Sold! To Mr. Hendrick.”
A Commitment to Charity
With that, Hendrick wrote a check for $3.7 million to the American Red Cross, with the funds designated to assist those affected by Hurricanes Helene and Milton in North Carolina last fall, as well as recent California wildfires.
The record-breaking bid matched a previous high set at the annual collector car auction. The only other vehicle to command that price was the first retail 2023 Corvette Z06 70th Anniversary Edition, which also went to Hendrick for $3.6 million. An additional $100,000 donation during that auction brought the total contribution to $3.7 million, Chevrolet spokesperson Trevor Thompkins noted.
Hendrick’s motivation for bidding wasn’t solely about adding another rare Corvette to his collection of 150 unique models, all meticulously stored at his 58,000-square-foot Heritage Center in Concord, North Carolina—nearly 900 miles from Michigan. Access to his private museum, which houses an array of rare cars, guitars, and film memorabilia, is by invitation only. The Detroit Free Press toured the facility in 2023.
Among the treasures in Hendrick’s collection are 20 VIN 001 Corvettes, all in his signature color—black. That number now includes the ZR1 purchased on Saturday, which is yet to be built. Hendrick’s spokesman, David Harris, stated that production is expected to begin later this spring or summer at GM’s Bowling Green Assembly plant in Kentucky. Hendrick plans to be present when the car rolls off the line.
A Passion Beyond Cars
Supporting charitable causes has become as important to Hendrick as his love for rare Corvettes.
“I went to western North Carolina … the level of death and devastation was staggering,” Hendrick told the Detroit Free Press on Sunday, recalling the destruction caused by Hurricanes Helene and Milton. “People are freezing, living in tents, an orphanage with no way to store food. It’s heartbreaking. God has blessed me.”
Having grown up on a tobacco farm in Virginia, Hendrick once sold everything he owned to purchase a struggling car dealership. Today, he is estimated to be worth around $1 billion, according to reports. His company, Hendrick Motorsports, holds the record as the most successful NASCAR team in history.
Hendrick Automotive Group, his dealership empire, is among the largest privately owned automotive retailers in the country, employing approximately 10,000 people and generating around $12.2 billion in annual revenue.
Making an Impact
The team at Barrett-Jackson expressed gratitude for Hendrick’s generosity and GM’s involvement.
“We made history by selling this rare collector’s vehicle for $3.7 million while also supporting the Red Cross in its mission to provide food and emotional support to disaster victims,” said Barrett-Jackson CEO Craig Jackson. “With the recent hurricanes on the East Coast and the fires in California, this money is going to people who truly need it.”
Hendrick has personally contributed nearly $6 million toward disaster relief efforts, including his donation on Saturday. His aid has reached victims of hurricanes, as well as those affected by the California wildfires.
As part of that effort, Hendrick arranged for supplies to be transported to North Carolina via specialized helicopter flights and semi-trucks. Additionally, a collaboration between Sonic Automotive, Speedway Motorsports, Hendrick Motorsports, and Hendrick Automotive Group resulted in a $2 million donation to Samaritan’s Purse, an international relief organization based in Boone, North Carolina.
“This has become a true passion—helping others. And, of course, I love Corvettes,” Hendrick said. “I’m really grateful to GM for supporting these charities.”
According to Barrett-Jackson spokesperson DJ Downs, Hendrick’s charitable contributions through car auctions have surpassed $25 million, spanning 38 vehicles. The weekend’s auction alone raised $6.2 million for charity, with the ZR1 VIN 001 leading the charge. To date, Barrett-Jackson has raised over $162 million for charitable causes.
Chevrolet’s Ongoing Commitment
GM selected the Red Cross as the beneficiary of this auction due to its longstanding partnership with the organization and its history of supporting disaster relief efforts.
“The Red Cross is working tirelessly to bring aid and hope to those impacted by natural disasters, from wildfires to floods and other emergencies,” said Cliff Holtz, CEO of the American Red Cross. “We’re incredibly grateful to Chevrolet for their tremendous generosity in helping us continue this vital work.”
For the past 15 years, GM has worked with Barrett-Jackson through charity auctions.
“General Motors has been part of some of our most memorable moments when we’ve raised money together for charity on the Barrett-Jackson auction block,” Jackson said.
Hendrick confirmed that once the ZR1 is built, it will be displayed at the Heritage Center alongside the rest of his Corvettes. However, despite its capability of reaching 233 mph, it will never be driven. In fact, none of the Corvettes in his collection ever hit the road.
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