Car to be auctioned at Barrett-Jackson auction holds special meaning for its CEO

Each year, a car is auctioned off for charity at the Barrett-Jackson auction, and the charity cars have raised more than $96 million, to date.

This year, one of the charity cars at the auction holds a special value for Barrett-Jackson's CEO, Craig Jackson.

Last year, a close friend of Jackson passed away from a heart attack, at the age of 61. In his memory, a car will be auctioned off, with the proceeds going to the American Heart Association.

"That's part of the reason why we do this," said Jackson. "It's to raise awareness and hopefully wherever this car goes, they'll love the car and cherish it as much as we have."

The white-on-white 35th anniversary 1988 Corvette was given to Jackson, from good friend Dave Ressler.

"That's why he gave it to us, in commemoration of our 35th anniversary," said Jackson. "He presented us with a 35th anniversary Corvette. He also gave us a 40th anniversary Corvette, which we sold for Tgen, and I was going to call him that day and talk about Tgen and charity, and I never got to talk to him."

Because of Ressler's death, all the proceeds from the car will be donated to the American Heart Association, in Ressler's honor. It's part of their "driven hearts" campaign.

"For this year, it's a year long initiative," said Jackson. "First time we've ever done this in our company's history, to go auction-to-auction to raise money for one single fund, and that is to raise money for the American Heart Association."

It's not only about the financial aspect of this charity car. It's impact will be stretching far across the auction block.

"Also some very impactful visual effects out there to teach people to really learn," said Jackson. "What can you do to see the signs of a heart attack coming on, and that is going to be doing at all four auctions across the country."