We derive the exact inefficiency upper bounds of the multiclass C-Logit stochastic user equilibrium (CL-SUE) in a transportation network. All travelers are classified on the basis of different values of time (VOT) into M classes. The multiclass CL-SUE model gives a more realistic path choice probability in comparison with the logit-based stochastic user equilibrium model by considering the overlapping effects between paths. To find efficiency loss upper bounds of the multiclass CL-SUE, two equivalent variational inequalities for the multiclass CL-SUE model, i.e., time-based variational inequality (VI) and monetary-based VI, are formulated. We give four different methods to define the inefficiency of the multiclass CL-SUE, i.e., to compare multiclass CL-SUE with multiclass system optimum, or to compare multiclass CL-SUE with multiclass C-Logit stochastic system optimum (CL-SSO), under the time-based criterion and the monetary-based criterion, respectively. We further investigate the effects of various parameters which include the degree of path overlapping (the commonality factor), the network complexity, degree of traffic congestion, the VOT of user classes, the network familiarity, and the total demand on the inefficiency bounds.