Barrett-Jackson has sold the world’s first 2014 Chevrolet Corvette Stingray convertible for $1 million. The car’s new owner is NASCAR team owner Rick Hendrick. Apparently, Hendrick loves his Corvettes. Last January, he also bought the world’s first production Corvette C7 Stingray coupe at auction, playing $1.1 million. Proceeds for the sale will go to the Detroit-based Barbara Ann Karmanos Cancer Institute.

The Stingray convertible made its debut at the recent Geneva Motor Show. It boasts a 6.2-liter direct-injected V-8 engine that produces 450 horsepower.

The new Corvette will be available to the public later this year, with pricing beginning around $60,000.