Victoria car company expects luxury cars to sell for millions at U.S. auction

Victoria luxury car company makes big splash A luxury car company in Victoria is sending premium vehicles to a swanky auction in Arizona, with one car expected to sell for millions.

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.

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 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.