The very first Cadillac CT4-V Blackwing and CT5-V Blackwing were sold at auction for $430,000 this week. The full hammer price will go to non-profit initiative, Black Ambition.
The cars were sold at Barrett-Jackson’s Scottsdale, Arizona sale that ran from March 20 and continues March 27. Cadillac donated the cars and the auction house waived its fee.
That means that all $430,000 are going to Black Ambition. The non-profit was founded by popstar Pharell Williams. Its goal is to award prizes to companies led by Black and LatinX entrepreneurs and in so doing fund bold ideas and reduce barriers to capital.
“Certain communities have historically, deliberately, and painfully been excluded from access to growth capital for their businesses,” writes the company. “We see a future where ideas flourish, pathways to success are elevated, and more Black and Latinx entrepreneurs are better positioned to build generational wealth that will transform the American landscape.”
Along with the cars, the auction winners got tickets to an exclusive driving experience at Spring Mountain Motor Resort in Nevada and tickets to an upcoming IMSA race.
The CT4-V and CT5-V Blackwings were unveiled earlier this year and are the highest-performance versions of their respective model lines. The CT5-V Blackwing, in fact, is the most powerful series-production Cadillac ever sold. Its final hammer price was $265,000.
Powered by a 6.2-liter supercharged V8 making 668 hp, the CT5-V Blackwing competes with vehicles a class above it while also featuring a manual transmission. The CT4-V Blackwing features a manual as well as a 472 hp twin-turbo V6. It sold for $165,000.
“Everyone at Cadillac and GM is proud of the results and what the sale of these new CT4-V and CT5-V Blackwing models will mean for others through Black Ambition,” said Melissa Grady, Cadillac chief marketing officer. “We are proud to support this nonprofit initiative to help reduce barriers, improve access to capital and provide mentorship to up-and-coming entrepreneurs.”