Rick Hendrick was seated in a skybox overlooking a packed crowd at the Barrett-Jackson Scottsdale Auction in Arizona, excited to bid on the first production model of the fastest car in the United States.

On the auction stage below was the sleek pre-production 2025 Chevrolet Corvette ZR1, featuring a black finish with blue racing stripes and an impressive rear spoiler designed for enhanced aerodynamics and stability at speeds up to 233 mph.

Hendrick, a Chevrolet dealership owner and a NASCAR Hall of Fame team owner, raised one finger to signal his interest in the car. His initial $1 million bid was quickly eclipsed by a phone bidder, according to a Barrett-Jackson spokesperson. The bidding escalated rapidly to $1.5 million, then $2 million, $2.5 million, and $3 million as the two men vied for the coveted vehicle.

The proceeds from the auction would benefit charity, which is customary for these events.

“Cheering them on are NASCAR legends Tony Stewart and Jeff Gordon  who will take it home?” the auctioneer asked the audience. Gordon, who raced for Hendrick Motorsports from 1992 to 2015, currently serves as the vice chairman of the company.

The bid eventually soared to an incredible $3.7 million, and moments later, the auctioneer exclaimed: “Sold! To Mr. Hendrick.”

‘Death and devastation’ as motivation

With that, Hendrick signed a check for $3.7 million to donate to the American Red Cross. The funds will assist those impacted by Hurricanes Helene and Milton in North Carolina last autumn as well as the recent wildfires in California.

This bid equaled the record for the Barrett-Jackson annual collector car auction. The only other vehicle to achieve that amount was the 2022 sale of the first retail 2023 Corvette Z06 70th Anniversary Edition, which Hendrick also purchased for $3.6 million. To increase the charity donation, another bidder contributed an additional $100,000 during that auction, bringing the total to $3.7 million, as mentioned by Chevrolet spokesman Trevor Thompkins.

Hendrick’s aim on that day was not merely to add to his impressive collection of 150 Corvettes, all stored at his 58,000-square-foot Heritage Center in Concord, North Carolina, approximately 900 miles from Michigan. Access to this unique car museum is by invitation only, and the Detroit Free Press had the opportunity to tour the Heritage Center in 2023.

In his center, Hendrick houses his collection of 20 VIN 001 retail Corvettes, all finished in his favorite color, black. This group includes the ZR1 he purchased on Saturday, which has yet to be manufactured. Hendrick’s spokesperson, David Harris, mentioned that they anticipate its production to begin at GM’s Bowling Green Assembly in Kentucky in the upcoming spring or summer, and Hendrick plans to be present for its delivery.

Hendrick expressed that supporting charitable causes has become “a passion” for him, paralleling his affection for rare Corvettes.

“I visited western North Carolina  the destruction was heartbreaking,” Hendrick shared with the Detroit Free Press on Sunday, recalling the aftermath of the storms. “People are freezing, living in tents, and there’s an orphanage with no facilities to store food. It truly hurts my heart. I’ve been blessed by God.”

Hendrick, who was raised on a tobacco farm in Virginia and had previously sold all he owned to acquire a struggling car dealership, has now amassed a fortune of roughly $1 billion, according to various reports. Harris chose not to disclose Hendrick’s personal net worth, but Hendrick Motorsports has established itself as the winningest team in NASCAR history.

Hendrick’s automotive business is amongst the largest, if not the largest, privately owned car dealership group in the U.S., employing about 10,000 people and generating approximately $12.2 billion annually.

Creating history to benefit others

The team at Barrett-Jackson expressed gratitude towards Hendrick and GM for their contributions.

“We made history by auctioning this rare collector vehicle for $3.7 million, while also aiding the Red Cross in its mission to provide food and emotional support to disaster victims,” Craig Jackson, CEO of Barrett-Jackson, declared in a statement. “With the recent hurricane on the East Coast and the fires in California, these funds are certainly necessary.”

Hendrick noted that, combined with Saturday’s contribution to the Red Cross, he has now donated nearly $6 million to assist victims of hurricanes and, more recently, those affected by wildfires in Los Angeles.

Harris explained that part of this $6 million included funding for necessary supplies to be delivered by helicopter and semi-trucks to charities and relief groups in western North Carolina following the hurricanes. Furthermore, Sonic Automotive, Speedway Motorsports, Hendrick Motorsports, and Hendrick Automotive group collaborated to donate $2 million to Samaritan’s Purse, a Boone, North Carolina-based international relief organization.

“This has become a passion (supporting charities), and I also have a deep affection for Corvettes,” Hendrick shared with the Free Press. “I genuinely appreciate GM’s support for these organizations.”

Over the years, Hendrick’s winning bids on 38 different cars have generated over $25 million for various charities, according to DJ Downs, a representative for Barrett-Jackson. Downs added that the recent auction raised a total of $6.2 million for charitable causes through the sale of five vehicles, led by the ZR1 VIN 001. To date, Barrett-Jackson has raised over $162 million for charity.

Chevy cars generate millions

GM selected the Red Cross for this auction due to its long-standing partnership with the organization, which consistently supports disaster relief initiatives.

“The Red Cross is tirelessly working to provide relief and hope to individuals affected by all types of disasters across the country, including wildfires, floods, and other emergencies,” stated Cliff Holtz, CEO of the American Red Cross. “We are immensely grateful to Chevrolet for their generous support as we work together to deliver essential assistance to families and communities in desperate need.”

GM has collaborated with Barrett-Jackson and the charity auction program for 15 years. “General Motors has provided some of our most unforgettable moments while raising funds for charity at the Barrett-Jackson auction,” remarked Jackson.

Hendrick stated that when he picks up this ZR1, it will be added to the Heritage Center alongside his other Corvettes. However, when it comes to reaching 233 mph, he firmly declared it would never happen, as he never drives any of the cars in his collection.

Jamie L. LaReau is the senior autos writer covering Ford Motor Co. for the Detroit Free Press. Contact Jamie at jlareau@freepress.com. Follow her on Twitter @jlareauan.