It’s been called a barometer of Calgary’s economy.
The annual Calgary Stampede Canvas Auction takes place Thursday evening with 36 chuckwagon drivers up for auction to the highest bidder.
Last year the auction raised $2.3 million, down nearly $500,000 from 2015.
“It’s the money drivers use to set their budget for the entire season,” driver Jordie Fike said. “Drivers are hurting right now. There’s some guys retiring at a young age and if you have a young family and payments you can’t do this all the time.”
Oil companies are traditionally active bidders, however with oil prices still low, it’s hoped companies in other industries will step up.
“To diversify and get other companies involved in chuckwagon racing is nothing but positive for us,” driver Jason Glass said. “Last year, quite a few new companies came in and hopefully we’ll see that again this year.”
Companies bid to have advertising displayed on the canvases that cover the chuckwagons and for a chance at a behind-the-scenes experience.
“Everybody gets to meet the horses, the sponsors, myself. That’s the athletes of the sport. It’s like meeting the Flames players before and after the game,” Fike said.
Even though bids likely won’t top last year, the excitement of the auction still makes hairs stand on end.
“It’s pins and needles for everyone,” Glass said. “Once the doors close and the stadium is full of people, it’s very exciting.”