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Russ Jackson and Tom Barrett organized the original auction at 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 del Auto Elegance", a fund-raiser for local charities, including the Scottsdale Library. Then, in 1971, the two jointly presented a classic car auction. Barrett's Mercedes 770 Phaeton sold for $153,000 at this event. The first auction in Scottsdale, Arizona was in January 1973 and was put on by Kruse. Tom Barrett and Russ Jackson consigned about 40 cars to this annual car auction and was a Kruse auction until 1980, when they broke ties with the Kruse company and started their own annual Scottsdale auction.

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Russ Jackson died in 1993, and Tom Barrett died in April, 2004. Craig Jackson, who had worked actively on a daily basis throughout the year and on-site at the event, took over. Internet live bidding was introduced that year.

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Starting at the 3rd annual Palm Beach auction in 2005, the show was renamed from "Barrett-Jackson Classic Car Auction" to "Barrett-Jackson Collector Car Auction", followed by the name change in the Scottsdale, Arizona auction in 2006.