DETROIT, March 18, 2013 /PRNewswire-USNewswire/ -- The first 2014 Chevrolet Corvette Stingray Convertible offered for sale will be auctioned by Barrett-Jackson April 5 in Palm Beach, Fla., to support cancer research and treatment. (Photo: http://photos.prnewswire.com/prnh/20130318/DC78302 ) (Logo: http://photos.prnewswire.com/prnh/20071106/KARMANOSLOGO ) Chevrolet is donating the highly coveted sports car as part of General Motors' support for the Barbara Ann Karmanos Cancer Institute and its 31st Annual Dinner. Every penny of the sale proceeds will benefit the Karmanos Cancer Institute – one of only 41 National Cancer Institute-designated comprehensive cancer centers in the country. The auction is part of Barrett- Jackson's 10th annual Collector Car Auction, held at the South Florida Fairgrounds in Palm Beach. Those unable to attend can bid by visiting www.barrett-jackson.com. The winning bidder will receive a letter of authenticity, as well as the ability to select the color. The 2014 Chevrolet Corvette Stingray Convertible offers all of the uncompromising performance of the coupe, including an estimated 450 horsepower and a 0-to-60 acceleration time of four seconds, according to GM. In addition, its all-new, fully electronic top can be lowered remotely and opened or closed at speeds of up to 30 mph. "When we asked ourselves how best to assist the Karmanos Cancer Institute in its valiant fight against this horrible disease, the first Corvette Stingray Convertible off the line for sale was an obvious choice," said Mark Reuss, president, GM North America. "It's the best we have to offer, and it should prove to be an immensely desirable and highly collectible car." The donation demonstrates GM's outstanding commitment to the Barbara Ann Karmanos Cancer Institute. This is the second year GM has offered one of its collector vehicles to be auctioned to benefit Karmanos. In addition, for the second consecutive year, the GM Foundation has generously donated $400,000 to cancer research, bringing GM and the GM Foundation's total support of Karmanos to nearly $6.4 million over the last 16 years. "The commitment of GM and the GM Foundation to further the Karmanos Cancer Institute's innovative cancer research and exceptional patient care is nothing short of magnificent," said Gerold Bepler, M.D., Ph.D., president and CEO of Karmanos. "From the company's top leadership to its employees and partners, GM's investment to improve life for those in our community and significantly impact our global fight to end this disease is truly outstanding. We are extremely grateful to GM and the GM Foundation, and our many sponsors and supporters who continue to imagine and help us work toward a world without cancer." The Karmanos Cancer Institute's 31st Annual Dinner is Saturday, April 20, at the General Motors' Detroit-Hamtramck Assembly Center, 2500 East Grand Blvd., in Detroit. Reuss and his wife Kim are chairing this year's gala. Emcee for the gala is Ruth Spencer, anchor and consumer reporter for WDIV Local 4. The elegant event will feature a cocktail reception; seated dinner; entertainment by DJ Brad Hales and Motown legends The FOUR TOPS; dancing; a raffle and brief program. There will also be an exciting live auction featuring unique VIP experience packages.