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
Prince William says wife Kate is 'doing well'
Prince William said on Friday his wife Kate was 'doing well' in a rare public comment about the Princess of Wales as she undergoes preventative chemotherapy for cancer.
BREAKING Canadian Blood Services apologizes to LGBTQ2S+ community for discriminatory blood donation policy
Canadian Blood Services issued an apology on Friday to the LGBTQ2S+ community for what it now admits was a harmful and discriminatory blood donation policy that prevented sexually active men who have sex with men and some trans people from donating blood and plasma.
BREAKING Toronto mayor hints that WNBA team is coming to the city, marking the first franchise in Canada
Toronto Mayor Olivia Chow says that she is hopeful an announcement could be made soon amid multiple reports that a WNBA team is coming to Toronto in 2026.
Magnitude 4.2 earthquake reported off Vancouver Island's west coast
A 4.2-magnitude earthquake was recorded west of Vancouver Island early Friday morning.
Ontario coroner to investigate death of man who suffered cardiac arrest while waiting in ER
A provincial coroner will be investigating the death of 68-year-old David Lippert, who suffered a cardiac arrest while waiting in a crowded emergency room in Kitchener, Ont.
'Irate male' assaulted Newfoundland officers with block of cheese, police say
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.
Average hourly wage in Canada now $34.95: StatCan
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
This iconic Canadian song is turning 50
Andy Kim's 'Rock Me Gently' is marking a major milestone, as it celebrates its 50th anniversary.
From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.