Arrows went into administration last year after financial difficulties led the company's directors to unsuccessfully attempt a going concern sale.

When the administrators could not secure a sale, AccountancyAge.com revealed they had decided to put the company's assets up for sale via live web auction.

According to receivers Brian Hamblin and Phillip Long the website previewing the auction has had over 25,000 people viewing the online sales list and more than 300 people have expressed an interest in making a purchase.

The auction, conducted by DoveBid, features three-seater hospitality F1 cars, trailers, racing and pit equipment, and other memorabilia such as Arrows clothing and helmets.

The auction is being held tomorrow (Wednesday) and Thursday at Leafield Technical Centre and will be webcast live on www.dovebid.com.