For years, automotive enthusiasts have admired exotic supercars and hypercars of European make. Industry analysts believe it might be the allure of the sleek aesthetics coupled with top-tier performance. Others claim it could be an attraction stemming from how engineers come up with new technology that redefines motoring. Meanwhile, there are some who prefer these vehicles for the mid-mounted configuration. Now, reports confirm that the first production 2020 Chevrolet Corvette Stingray up for bid at this year's opening Barrett-Jackson auction just sold for $3 million.

The 2020 Chevrolet Corvette Stingray (also known as the C8), has received great publicity since its announcement in April 2019. The automotive industry noted even greater interest after the coupe was officially unveiled during a media event held at the Kennedy Space Center on July 18, 2019.

The auctioneer can relate to this kind of speed. We’re excited to see the hammer go down on VIN 001 of the all-new mid-engine #Corvette #Stingray at @Barrett_Jackson.

— Chevrolet (@chevrolet) January 17, 2020

According to industry sources, what makes this American-made sports car so appealing to buyers is the mid-engine setup. After a series of prototypes, this is apparently the brand's first-ever commercial model with this particular arrangement.

As explained by Autoblog, carmakers have made it a tradition to put up the first machine to roll off the production floor for sale to benefit a particular charity. Previous Barrett-Jackson events likewise hosted notable models such as the new Toyota Supra and Mustang Shelby GT500.

What an incredible moment! With the help of @GM CEO Mary Barra, the hammer dropped on a $3 MILLION bid for the VIN 001 2020 @Chevrolet Corvette Stingray! The entire amount will help benefit the Detroit Children's Fund. #ChevyTop10

Watch LIVE now:

— Barrett-Jackson (@Barrett_Jackson) January 19, 2020

Along with a representative from Detroit Children's Fund, General Motors CEO Mary Barra confirmed proceeds from the sale of the 2020 Chevrolet Corvette Stingray with vehicle identification number (VIN) 001 will be donated to the aforementioned charity.

After a bidding frenzy, the amounts reportedly hovered for a few seconds at $1 million and $2 million. Nevertheless, it continued until renowned car collector and NASCAR team owner Rick Hendrick won the auction for $3 million. Sources likewise pointed out that the bright red convertible driven up the stage was not the actual sports car the winner will take home.

The judges' official stamp of "impressive performance." The all-new mid-engine #Corvette #Stingray was voted 2020 North American Car of the Year. #NACTOY2020

— Chevrolet (@chevrolet) January 13, 2020

On the other hand, his upcoming prize still needs to be assembled at the factory and shipped out to its new owner afterwards. Moreover, it seems that the 2020 Chevrolet Corvette Stingray will be decked mostly in black and with additional enhancements that put it a tier higher than the base model.

2020 Chevrolet Corvette Stingray at Barrett-Jackson
The first production 2020 Chevrolet Corvette Stingray sold for $3 million at the Barrett-Jackson auction. Photo: Chevrolet