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Auctions End Less Than Reserve

C8 Corvette Z06 Flip Fail

Since the start of the Covid-19 pandemic, people have been hoping to make a quick buck off vehicles in high demand. So as the C8 Corvette Z06 began production, it was inevitable that people and dealers would be flipping or marking up the prices of these street-legal racecars. Finally, however, consumers have had enough as two people have tried and failed to flip the supercar through two auction sites.

Attempted C8 Corvette Z06 Flip Fails

According to the Bring a Trailer listing, the Corvette in question was a 70th Anniversary C8 Z06 Convertible which appears to have been the more egregious of the two, listed by Loehmann Blasius Chevrolet, a dealership in Waterbury, CT. The MSRP of the Z06 was $146,340, but the auction ended on 3/2 with a final high bid of $222,000. Despite that price, the reserve wasn’t met, which was likely somewhere above a quarter of a million dollars. 595 comments on the listing later, it appears that people took notice.

2023 Chevrolet Corvette Stingray Z06 70th Anniversary Edition
Image via Chevrolet


Additionally, the dealer has another Z06 on its lot listed for sale at an MSRP of $249,990, which is a 2LZ; unsurprisingly, they haven’t managed to sell the car for that price which says a lot. People are finally cracking down on the ridiculous prices. The second C8 Corvette Z06, which was listed on Cars & Bids, and this one also failed to meet the reserve when the auction ended on March 2. The black 2023 C8 Corvette with a red interior had a window sticker original MSRP of $131,255 and only received 11 bids with a final high offer of $178,569.

Both auctions show that the buy-and-flip mentality for popular cars doesn’t result in a hefty payday; as the market finally cools down, both sellers have failed to make a nice profit. However, if this continues to be a trend for other cars, the market may return to a state where cars will sell for the MSRP. We can only hope.

Aside from those who were dumb enough to bid, good job everybody.

C8 Corvette Z06 Flip Fail

Written by Zac Quinn

Zac's love for cars started at a young age, after seeing the popular Eleanor from Gone In 60 Seconds. From there, fascination and enthusiasm blossomed and to this day the Ford Mustang remains a favorite. His first job started out detailing cars, but also provided the opportunity to work on restoration including an 1968 Ford Mustang, Pontiac Firebird, and a C3 Corvette, though he left that job before further work and experience could be had. From there, he was a detailer at a car dealership before quitting that job to try and finish college.

Much of his free time while studying was spent watching YouTube videos regarding new cars, or off-roading. 4WD247 is a personal favorite channel which rekindled a dying flame in car enthusiasm, now tailored towards trucks and SUVs and the fun that can be had building up an overlanding rig, and going on adventures, though, that chapter remains unwritten for the time being.

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