The rumours were true. The very first 2014 Corvette C7 Stingray to come off the production line has sold at Barrett-Jackson's Scottsdale classic car auction, which was held on January 19-20 in Arizona.
Prior to the sale, under Lot 3016, the auction house had written: "Have you ever wanted to own a piece of Chevy history? This may be your chance! A special Chevrolet model will be revealed during the auction where bidders will have the opportunity to take home this one-of-a-kind vehicle."
The Stingray then made its appearance at Scottsdale, selling for $1.1m to Nascar team owner Richard Hendrick. Despite paying over 20 times its sticker price, Hendrick will have to wait until late 2013 until he can actually drive the car.
When officially released, the latest Corvette will cost in the region of $50,000 and will sport a LT1 6.2 litre V8 engine, producing 450 horsepower and 450 lbs of torque. It will be able to reach 0-60 mph in 3.9 seconds.
This isn't the first Corvette that Hendrick has bid on; he has also reportedly bought a rare 1958 model formerly owned by General Motors CEO Dan Akerson for $270,000, as well as paying a further $1m for a 1968 Corvette.
The last pre-release car to come to auction was the very first production 2013 SRT Viper GTS, which sold for $300,000 in June 2012 - three times its asking price.