There’s an immensely high demand for the C8 Corvette Z06, which isn’t surprising as everyone anticipated the more powerful version since the C8 Stingray was revealed. But, unsurprisingly, amid production constraints for the highly sought-after car, allocations are far fewer than demand, and at least one Chevy dealer has decided to auction off C8 Corvette allocations, not even the vehicle itself.
C8 Corvette Z06 Allocation Auctioned For Charity
According to the Corvette Forum, user ElFingers got a phone call from his dealer, Classic Chevrolet Sugarland, in Texas, with news that they had one allocation in the current cycle that would go for $75k over MSRP. If that wasn’t shocking enough, Zerin Dube posted an email from Classic Chevrolet on Twitter, which reveals that whoever wins this auction will still have to pay MSRP for the vehicle, along with the delivery, title, and license fees, along with “MSRP adjustments” – or additional markups on top of the premium they’re already paying.
How do you get around selling Z06s for MSRP? Auction off the allocation to the highest bidder then sell the car to them for MSRP. pic.twitter.com/CGdF0lBfeN
— Zerin Dube (@SpeedSportLife) August 21, 2022
It is worth noting that the auction of the C8 Corvette Z06 allocations did benefit some great causes, as Classic Chevrolet wound up donating the $71,000 it raised to several charities, including the Houston Area Parkinson Society, Let’s Shine, The Rose Breast Center of Excellence, Champions Kids Camp, Shriners Hospitals for Children, and the Houston Food Bank. It’s unclear if that was the plan from the start or the result of internet backlash, but this is not the last time we’ll hear stories like this circulating around.
GM has taken some significant steps to combat the people that intend on flipping the C8 Corvette Z06 within the first year of ownership. They have not taken steps against dealership markups which still play a significant factor in the current state of the market. While the money for the auction went to charity, the bidder who paid the sum will still likely face markups over the MSRP, and there’s no telling how much more that’s going to cost them in addition to what they paid for the allocation.