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Douglas Barton·
Auctions
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Wholesale Market Report, Special C8 Corvette Edition: Four Stingray 1LTs & Three Z06s!

Click on CorvSport's exclusive wholesale market report to stay informed on the C8 markets with actual dealer-to-dealer wholesale transactions!

One of the beautiful Stingray 1LTs in today's report. Image Credit: Manheim

For the 28th installment of CorvSport’s exclusive dealer-to-dealer wholesale market report, we thought it would be fun to whip up a special combo C8 Stingray 1LT and Z06 edition–essentially from the bottom to the top of trims. What also makes this C8 edition unique is that all of our C8s are either 2023 or 2024 models. As a refresher, to date, our first 16 installments, which were focused solely on the Florida wholesale market, yielded a successful sales ratio of (only) 30%. We felt that was low and moved to Texas to see if that would heat up our numbers. And Texas has not disappointed, with 61% of our wholesale Corvettes heading off to a new dealer lot, where they will be prepped for retail. [Author’s Note: This article is FREE and not behind a paywall. If/when any pop-ups occur, please click to make them disappear and continue enjoying the article. One requires two steps–first, the arrow on the left, then the x on the top right.

With double the sales ratio, the Texas market has definitely been fun to watch! So, grab a drink, pull up a chair, kick your feet up, and let’s see how these C8 Stingray 1LTs and Z06s do!

A Quick Review Of The Process:

In preparation for each installment, I start a list of Corvettes from that week’s runlist that catch my eye. As a retired owner/operator of a used car dealership, I’ll use my 17 years of experience (and industry access) to give you insights into the market. My search is focused on the nation’s largest dealer-only wholesale auction, and all the Corvettes featured are from the Florida market. Corvettes end up at a dealer-only wholesale auction for many reasons, but most are trade-ins that the dealer decided not to retail on their lot. Some may also be repossessions or coming off leases. It’s also common for dealers to dump problem (or slow-selling) units at an auction.

For Fun (and Insights):

Compare the MMR (estimated wholesale value) to the actual hammer price (if sold). It’s also interesting to compare the wholesale purchase price (if it sells) to the Cox Automotive estimated retail value, as this will give you an idea of the margins used-car dealerships are working with.

[3/14/2025 Edition]

Top 7: Wholesale Dealer-Only Auction Activity Report

#7

2023 C8 Z06 Coupe 3LZ

6,536 Miles

Condition Report: 4.6/5.0

Announcements: None

Autocheck History Report: 2 owners, 0 accidents

MMR: $118,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $122,000 (6,796 average miles)
  • 6 Months Ago: $120,000 (4,491 mi)
  • Last Year: $144,000 (90 mi)

Estimated Retail Value: $123,000

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: Not a good start for our C8 Z06s–this example was dirty, and the 4.6 condition report is a bit low for a unit like this.)

#6

2023 C8 Stingray Coupe 1LT

5,627 Miles

Condition Report: 4.8/5.0

Announcements: Clean Carfax, GMTV–USA’s #1 Wholesale Distributor

Autocheck History Report: 1 owner, 0 accidents

MMR: $62,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $61,100 (10,582 average miles)
  • 6 Months Ago: $61,500 (7,763 mi)
  • Last Year: $67,500 (4,713 mi)

Estimated Retail Value: $64,200

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $57,750

(Insights: If you look closely, those are a set of HRE custom wheels, and this 1LT C8 still sold for under MMR–well bought!)

#5

2023 C8 Stingray Coupe 1LT

4,218 Miles

Condition Report: 5.0/5.0

Announcements: Clean Carfax, 1LT & Z51 packages, 1-owner

Autocheck History Report: 1 owner, 0 accidents

MMR: $62,800

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $61,100 (10,582 average miles)
  • 6 Months Ago: $61,500 (7,763 mi)
  • Last Year: $67,500 (4,713 mi)

Estimated Retail Value: $65,000

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $63,500

(Insights: Texas is on fire so far! This dealer paid just over MMR, and you’ll notice the margins are tight between their wholesale purchase price and Manheim’s estimated retail value.)

#4

2023 C8 Z06 Coupe 3LZ

2,698 Miles

Condition Report: 5.0/5.0

Announcements: None

Autocheck History Report: 1 owner, 0 accidents

MMR: $124,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $123,000 (7,010 average miles)
  • 6 Months Ago: $120,000 (4,491 mi)
  • Last Year: $144,000 (90 mi)

Estimated Retail Value: $130,000

(Based on Cox Automotive retail transactions)

Auction Results: NO SALE

(Insights: Despite being “resell red” and the highest trim level, this Z06 failed to sell, likely due to the seller dealer’s reserve being too high for the times.)

#3

2024 C8 Z06 Convertible 3LZ

7,185 Miles

Condition Report: 4.8/5.0

Announcements: Clean Carfax, GMTV–USA’s #1 Wholesale Distributor

Autocheck History Report: 1 owner, 0 accidents

MMR: $119,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $124,000 (3,315 average miles)
  • 6 Months Ago: $133,000 (2,892 mi)
  • Last Year: $147,000 (1,148 mi)

Estimated Retail Value: $127,000

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $131,000

(Insights: Woah, the wholesale bidding on this Z06 blew right past the estimated retail value! She’s a great looking unit, but as the C8 market softens, this dealer could be in for a not-so-fun retail ride. If you’re keeping count, only one of our three Z06s sold today.)

#2

2024 C8 Stingray Coupe 1LT

4,817 Miles

Condition Report: 4.8/5.0

Announcements: Clean Carfax, GMTV–USA’s #1 Wholesale Distributor

Autocheck History Report: 1 owner, 0 accidents

MMR: $63,000

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $63,800 (4,264 average miles)
  • 6 Months Ago: $66,000 (2,970 mi)
  • Last Year: $68,800 (1,888 mi)

Estimated Retail Value: $65,000

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $64,250

(Insights: The dealers couldn’t resist this “resell-red” 1LT Coupe with the high wing! The margins sure are tight, though!)

#1

2024 C8 Stingray Coupe 1LT

1,306 Miles

Condition Report: 5.0/5.0

Announcements:

Autocheck History Report: 1 owner, 0 accidents

MMR: $64,200

(MMR=estimated wholesale value, based on vehicle, miles, condition, and recent auction sales)

Historical Wholesale Averages

  • Past 30 Days: $63,800 (4,264 average miles)
  • 6 Months Ago: $66,000 (2,970 mi)
  • Last Year: $68,800 (1,888 mi)

Estimated Retail Value: $66,200

(Based on Cox Automotive retail transactions)

Auction Results: Sold for $67,500

(Insights: The 1LT buyers were out today, with another example that brought well over MMR! And forget about the estimated retail; we are going to blow past that as well.)

Summary: Wow, the 1LT Coupes were hot today, with all four selling. And not only hammering off to a new dealer, but with “strong money” over MMR in three of our four sales! Also, GiveMeTheVin came to sell today, with all of their C8s hammering off to a new dealer. Once again, the Texas wholesale activity has not disappointed, with 71% of today’s C8 Corvettes moving on to a new dealer. Thanks for joining CorvSport today, and we’ll see you in two weeks!

Sales Ratio Tracker (click date for report archives):

Thank you for being a faithful CorvSport reader! Are you CORVETTE OBSESSED like we are? The team of renowned authors and contributors at CorvSport hopes you sense our passion for the iconic Corvette, and our vast database of articles and guides should prove it–5000+ features since Scott Kolecki founded CorvSport over 15 years ago! Join the fastest-growing Corvette community on our Facebook page, with over 171,000 followers (52,000 since January 2023!). Meet other hardcore enthusiasts and say hello. This is Douglas B. signing off–click here if you would like to see more of my features.

*All images and information credited to Manheim Auction

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