The NASCAR Cup Series owner and Chevrolet dealer opened his pocketbook on Saturday to purchase yet another Corvette, adding to his collection of over 100 of his favorite model.

Rick Hendrick spent 3.7 million to secure the first Chevrolet Corvette ZR1 produced for retail sale and sold through the annual Barrett-Jackson auction in Scottsdale, Ariz.

As of 2023, Hendrick had 122 Corvettes in his personal collection, which he began in 1971 when he bought a stock 1963 Corvette that he later took his wife on their first date. This car was sold to help raise funds to start his first dealership, per the Detroit Free Press .

Hendrick's love of the Corvette led him to be inducted into the Corvette Hall of Fame in 2015.

"My love for Corvettes goes back to when I was a teenager, and it was the love for the car that got me into racing and the automobile business," Hendrick said. "To be honored at a place where so many of the Corvette greats are honored — it’s just humbling. I never dreamed that I’d be recognized in such a way."

This is not the first time that Hendrick has used the Barrett-Jackson auctions as a way to add to his Corvette collection and share his philanthropy, spending 3 million for the first C8 Corvette Stingray and 3.6 million for the first C8 Corvette Z06.

The newest addition to Hendrick's collection features the new LT7 ; a 5.5-liter, twin-turbocharged DOHC flat-plane crank V8 engine. The LT7 engine is reported to produce 1,064hp at 7,000 rpm.

At 3.7 million, the ZR1 was the highest-grossing auction item during Barett-Jackson's Super Saturday that raised 5.2 million for charity, including the Red Cross, with the funds earmarked to help aid those affected by the California wildfires and the 2024 Southeastern United States hurricanes.