First Corvette ZR1 Sells for $1 Million

Chevrolet and Barrett-Jackson has auctioned off the world’s first 2009 Corvette ZR1. I knew demand was high for the Chevy’s new super Corvette. However, I didn’t expect the bidding to reach $1 million! Dave Ressler, the man who owns the world’s oldest surviving Corvette, 1953’s #003, is the proud new owner of ZR1 #001.

Now you might ask what kind of person pays a million bucks of a car that will retail for $100,000 to $120,000 when it hit dealerships later this year? In addition to owning the world’s oldest Corvette (which he paid $1 million for), Dave Ressler owns 26 other Corvettes (not counting his new ZR1).

When you think about it, Mr. Ressler got a pretty good deal. Because all proceeds from the sale of the car went to charity (the United Way), the amount that was over and above the MSRP is tax deductible. So Mr. Ressler ended up with a $100,000 car and $900,000 tax receipt. Not a bad way to spend a million bucks. Here’s the video of how it all went down.