The first Corvette ZR1, the fastest Corvette in history, is on sale: here's how much money they paid for it

NASCAR Cup Series owner and Chevrolet dealer Rick Hendrick has purchased a Corvette ZR1 to add to his collection of more than 100 of his favourite cars.

How much did the Corvette ZR1 cost?

Rick Hendrick spent $3.7 million on a ZR1 ZR1. Hendrick spent USD 7.7 million to buy the first Chevrolet Corvette ZR1 for retail sale at the annual Barrett-Jackson auction in Scottsdale, USA.

In 2023, Hendrick had 122 Corvettes in his personal collection. His collection dates back to 1971, when he acquired a standard 1963 Corvette. This car was a very special one, as it was the car he used to take his wife on their first date. He later sold the car to raise funds to open his first car dealership.

Hendrix's love of Corvettes earned him a place in the Corvette Hall of Fame in 2015.

"My love for Corvette cars started as a teenager and it was this love that led me into the racing and car business. To be honoured in a place where the biggest names in Corvette are honoured is just a huge honour. I never thought I would be recognised in this way," said Hendrick. 

New LT7 in the collection

This is not the first time Hendrik has used Barrett-Jackson auctions to add to his Corvette collection and contribute to philanthropy.

He spent USD 3 million on his first C8 Corvette Stingray and USD 3.6 million on his first C8 Corvette Z06.

The latest addition to Hendrick's collection is the new LT7, which features a 5.5-litre DOHC twin-turbocharged V-8 engine with a flat crank. 

The event raised USD 5.2 million for charities including the Red Cross. The funds raised were used to help victims of the California wildfires and the 2024 southeastern US hurricanes.