to expand the collector car market. 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. Auction overview Barrett-Jackson is among the largest and best-known automotive events in the world. Peter W. Frey, writing for The New York Times in 1990, described Barrett-Jackson as "the Superbowl for collectible cars", stating that it attracts "the best vehicles" and "biggest buyers". The auctions are popular among celebrities, some of whom have also put their own vehicles up for sale. Notable attendees and sellers have included Jerry Seinfeld, Reggie Jackson, Tim Allen, Don Johnson, Jay Leno, Nicolas Cage, Phillip Maloof, Criss Angel, William Shatner, and Larry Fitzgerald. Auctions run for several days and are open to the public with an admission fee. As of 2002, the Scottsdale event attracted up to 150,000 people annually, many of them from California. Bidders make up only a small percentage of attendees. In 2015, for instance, the event attracted 350,000 people but only 5,000 of them were bidders, making up less than two percent of attendees. The auctioneer team is aided by ringmen who are present in the audience and yell to draw attention to interested buyers. Vehicles are typically offered without a minimum bid, otherwise known as a reserve. In 2005, all vehicles were offered for the first time without a reserve. For a fee, sellers can opt to have a detailing crew touch up their vehicles. Early on, the auctions showcased many pre-World War II vehicles, but with generational changes, the focus gradually shifted to muscle cars. During the mid-2000s, Barrett-Jackson specialized in American vehicles – especially muscle cars – from the 1950s through 1970s. By 2017, the Millennials demographic had become more prevalent at Barrett-Jackson auctions, with a particular interest in Japanese vehicles and vintage SUVs. Barrett-Jackson prefers vehicles that are associated with a unique story, such as celebrity ownership or use on a racetrack. Barrett-Jackson has a verification team to authenticate such stories. In 2020, a Rolls-Royce Phantom V that purportedly belonged to deceased evangelist Billy Graham was pulled from the auction lineup, after the authenticity of its ownership was questioned. Nine years earlier, Barrett-Jackson had auctioned a 1963 Pontiac Bonneville ambulance that purportedly was used to transport the body of U.S. president John F. Kennedy following his assassination. Questions about the vehicle's history were raised shortly before