A Victorian company that buys and sells high-end automobiles from around the world is gearing up for an extraordinary auction.
Victoria-based Silver Arrow Cars is bringing 24 vehicles to the Barrett Jackson auction in Scottsdale, Arizona this week.
The annual auction has been attracting car enthusiasts for over 50 years.
“It’s the biggest 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.
One of two dozen vehicles the Victoria-based company is bringing to Arizona is expected to sell “north of US$11 million,” according to Quocksister.
Craig Jackson, president and CEO of Barrett Jackson Auction Company, says he’s always excited to see what Silver Arrow brings to the show.
Various vehicles from the 2023 Barrett Jackson auction are shown. (Barrett Jackson Auction Company)You might think inflation would put a damper on the luxury vehicle market, but you’d be wrong.
“In times of inflation, everyone runs to durable assets,” Jackson said. “We sell durable assets.”
“When the stock market is hot, everyone wants to buy a toy,” he said.
This year, a record 1,912 luxury “toys” will be auctioned at the event.
Some of these vehicles include a Ford GT owned by musician John Mayer that Silver Arrow brings to Arizona.
The Ford GT that once belonged to singer John Mayer is shown. (Barrett Jackson Auction Company)Victoria’s company also got their hands on a Ferrari Barchetta owned by legendary British rocker Rod Stewart.
“We’re expecting $500,000 for this car,” Quocksister said.