When the Chevrolet Corvette launched in September of 1953, it retailed for $3,498. Today, 1953 Corvettes are worth $125,000 on the low end, while some are valued at around $750,000, depending on build date, condition, and history. This weekend the first 2016 Corvette Z06 C7.R gave the classics a run for its money, amassing $500,000 in the name of charity when it crossed the auction block at Barrett-Jackson’s annual Las Vegas event.

The first of just 650 Corvette Z06 C7.Rs to be made, it took just 20 seconds for bidding to hit $250,000, and just over a minute to sell this piece of Corvette history for $500,000. It’s just the latest six-figure Corvette to cross the block in the name of charity, with the money earmarked for the College of Creative Studies, a four-year arts and design school based in Detroit.

The lucky winner takes home not just a piece of Corvette history, being that its VIN #001, but also a track-ready, street-legal performance car with a 650 horsepower supercharged LT1 engine and a suite of performance and aesthetic upgrades. This includes a carbon fiber hood and adjustable body kit bits, carbon-ceramic brake pads, and an upscale interior that includes the Chevy Performance Data Recorder in-car camera.

While GM has yet to release official pricing, word on the street is that the Corvette Z06 C7.R will ship for about $115,000 from the factory, before dealer markups. Yet we can’t help but wonder if paying an extra $385,000 is really worth that first VIN number. We’d rather have a couple of classics to go alongside our new C7.R personally, but to each their own, right?