By The Canadian Press

Calgary Stampede chuckwagon auction proceeds up slightly

Mar 24, 2017 | 10:09 AM

CALGARY – It came right down to the wire but the annual Calgary Stampede chuckwagon canvas auction just edged out the total raised a year ago.

Bidders pledged $2.42 million to win the right to advertise on canvas tarps on the 36 chuckwagons that will compete in 10 days of racing in July.

Last year’s auction raised just under $2.3 million, the worst showing since 2010, when it brought in $1.97 million.

The top bid of $110,000 bought rights on the wagon driven by 12-time champion Kelly Sutherland, the sentimental favourite because he is retiring after this year’s event.

The auction, considered a bellwether for Alberta’s oilpatch optimism, takes place as crude prices have been lingering below the US$50 per barrel mark, though nearly US$10 above what they were at this time last year.

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The record year was 2012, when bidders pledged just over $4 million or an average of $112,000 for each rig.

(The Canadian Press)