Victoria car company expects luxury cars to sell for millions at U.S. auction
A Victoria company that buys and sells premium automobiles from all over the world is gearing up for an extraordinary auction.
The Victoria-based Silver Arrow Cars is bringing 24 vehicles to the Barrett Jackson Auction in Scottsdale, Ariz., this week.
The annual auction has drawn in car enthusiasts for more than 50 years.
"They're the greatest car auction in the world. There's no other place to sell," said Silver Arrow owner Tim Quocksister.
This year, Quocksister thinks Silver Arrow has the car to beat.
The lot of 24 vehicles the Victoria company is bringing to Arizona is expected to sell for "north of $11 million U.S.," according to Quocksister.
Craig Jackson, chairman and CEO of Barrett Jackson Auction Company, says he's always excited to see what Silver Arrow brings to the show.
Various vehicles at the 2023 Barrett Jackson Auction are shown. (Barrett Jackson Auction Company)You might think that inflation would put a dent in the luxury vehicle market, but you'd be wrong.
"In times of inflation, everybody runs to hard assets," said Jackson. "We sell hard assets."
"When the stock market is on a tear, everybody wants to buy a toy," he said.
This year, a record 1,912 luxury "toys" will be up for auction at the event.
Some of those vehicles include a Ford GT owned by musician John Mayer that Silver Arrow is bringing to Arizona.
The Ford GT formerly owned by singer John Mayer is shown. (Barrett Jackson Auction Company)The Victoria company also got its hands on a Ferrari Barchetta owned by legendary British rocker Rod Stewart.
"We're expecting $500,000 for that car," said Quocksister.
CTVNews.ca Top Stories
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.