First 2023 Cadillac Escalade-V costs $500,000

Cadillac's new Escalade-V is the most powerful and costliest Escalade ever. The first production Escalade-V sold at auction for $500,000.

That's three times the Escalade-starting V's price, but Cadillac won't get a dollar. The full money will be donated to Pensole Lewis College of Business & Design (PLC), a Detroit-based HBCU.

An extra $25,000 was donated to the cause, bringing the total to $525,000.

The pre-production SUV sold at Barrett-Las Jackson's Vegas auction on July 1. The winning bidder will receive VIN 001 later this summer.

The winning bidder can also create a pair of personalized sneakers with Dr. D'Wayne Edwards, PLC founder and footwear designer.

Cadillac Vice President Rory Harvey remarked, "Cadillac promotes big goals and audacious ambitions." Barrett-Jackson is helping the next generation of creatives in Cadillac's hometown of Detroit.

Dr. Edwards thanked Cadillac for diversifying the design business and supporting the next generation of creative talent. In a city famed for design and car manufacture, we're thrilled to have Cadillac sponsor this essential endeavor that will alter the design industry.

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Cadillac's first performance SUV is the 2023 Escalade-V. A supercharged 6.2-liter V8 produces 682 horsepower (509 kilowatts).

The basic or longer Escalade-V ESV can reach 60 mph in 4.4 seconds. It's not a Blackwing because it's built for street performance. Blackwing vehicles have street- and racetrack-capable power, suspension, and braking.