When Cadillac officially revealed full details of the new Escalade-V earlier this year, it was simultaneously the most powerful and most expensive Escalade ever. However, the first Escalade-V allocated to production far exceeded the MSRP, bringing in the full $500,000 at auction.
That’s more than three times the Escalade-V’s starting price of $149,990, but Cadillac won’t see a dime. The full amount will be donated to Pensole Lewis College of Business & Design (PLC), a Detroit-based college and the only black college and university in the state. In addition to the half million raised by the auction, an additional $25,000 was donated to the cause for a total of $525,000.
The auction took place at the Barrett-Jackson Las Vegas event on July 1, although the SUV crossing the block was a pre-production model. The winning bidder will receive the first production Escalade-V with VIN 001 later in the summer. In addition to the Cadillac, bidders can also design a custom pair of sneakers with Dr. D’Wayne Edwards, founder of PLC and renowned designer in the footwear industry.
“Cadillac champions big dreams and bold ambitions, and we are delighted with the outcome of this auction,” said Cadillac Vice President Rory Harvey. “We thank Barrett-Jackson for providing a platform that will help make a difference to the next generation of creatives in Cadillac’s hometown of Detroit.”
“We are both grateful to Cadillac for its contribution to diversifying the design industry and for providing support to the next generation of creative talent,” said Dr. Edwards. “In a city renowned for its automotive design and manufacturing, we are proud to have Cadillac as a supporter in this very important endeavor that will truly change the face of the entire design industry.”
The Cadillac Escalade-V 2023 is the first SUV from the GM luxury brand to wear the performance badge. That’s because a supercharged 6.2-liter V8 is mounted under the hood, producing no less than 682 horsepower (509 kilowatts). Enough to send a full-size SUV to 60 mph in 4.4 seconds, be it the standard model or the longer Escalade-V ESV. It stopped short of getting full Blackwing status as the focus was on high performance for the road. Blackwing models are designed with powerful power, suspension and braking systems on the road and on the race track.