Barrett Jackson sells 55% of the company 261 Million.

In August 2022, it was announced that IMG had acquired a 55% majority stake in Barrett-Jackson in a cash-and-stock deal valued at around $261 million

Russ Jackson and Tom Barrett organized the original auction in Scottsdale, Arizona. Jackson met Barrett through an interest in Barrett’s 1933 Cadillac V-16 town car. In 1967, Barrett and Jackson presented a car show called “Fiesta de los Autos Elegantes,” a fund-raiser for local charities, including the Scottsdale Library. Then in December 1971, the two jointly presented a classic car auction, when they auctioned two Mercedes-Benz 770K Phaetons. One of the Phaetons more than tripled the previous auction record, selling for $153,200.[3]

Former U.S. President George W. Bush on the auction block for the sale of the first production 2018 Corvette Carbon 65 (Lot #3007) to benefit the former president’s Military Service Initiative.[4]

Jackson died in 1993, and Barrett in 2004. Russ Jackson’s son, Craig Jackson, who had worked actively at the company on a daily basis throughout the years and on-site at the event, took over running the company in 1995, the same year the auction began airing live on the Speed television channel. Internet bidding was also introduced at that time.

Starting at the third annual Palm Beach auction in 2005, the show was renamed from “Barrett-Jackson Classic Car Auction” to “Barrett-Jackson Collector Car Auctions.” The name was also changed for the 2006 Scottsdale, Arizona show and all auctions thereafter.

Beginning in 2008, a Barrett-Jackson auction was produced in Las Vegas.

From 2010 to 2012 a Barrett-Jackson auction was held in Orange County, California. However, on January 19, 2013, Barrett-Jackson announced it would move that auction from Orange County to Reno, Nevada as part of the city’s Hot August Nights event in August 2013. A Barrett-Jackson auction was held in Reno, Nevada until 2015.

On September 26, 2015, Barrett-Jackson announced that for the first time ever, it would have an auction in the Northeast at Mohegan Sun in Uncasville, Connecticut. The inaugural auction took place June 23–25, 2016, with the auction block located inside the Mohegan Sun Arena.

On August 4, 2021, Barrett-Jackson announced it was headed to the Lone Star State for the first time with its inaugural Houston Auction,[5] September 16-18, 2021, at NRG Center.

During the 2018 Scottsdale Auction, where 10 charity vehicles were sold, Barrett-Jackson surpassed $100 million in total funds raised for charity through its platform, reaching just over $102 million. Former U.S. President George W. Bush joined Barrett-Jackson for the sale of the first production 2018 Chevrolet Corvette Carbon 65 Edition (Lot #3007), marking the first appearance by a former president at a Barrett-Jackson event.[6]

In August 2022, it was announced that IMG had acquired a 55% majority stake in Barrett-Jackson in a cash-and-stock deal valued at around $261 million More about IMG.

Founded in 1960 with a single deal that would prove the advent of modern-day sports marketing, IMG is now a global leader in sports, events, media and fashion, operating in more than 30 countries. The company represents and manages some of the world’s greatest sports figures and fashion icons; stages hundreds of live events and branded entertainment experiences annually; and is one of the largest independent producers and distributors of sports media. IMG also specializes in sports training; league development; and marketing, media and licensing for brands, sports organizations and collegiate institutions. 

In 2014, IMG was acquired by WME, a leading global entertainment agency, to form Endeavor

In August 2022, it was announced that IMG had acquired a 55% majority stake in Barrett-Jackson in a cash-and-stock deal valued at around $261 million