Russo and Steele’s Monterey Auction Results: Total Sales equal $8.5 Million with an Increase in Sales Percentage by 22%

By Auto News Log • August 29th, 2011

Monterey, CA – The 11th Annual Russo and Steele Monterey Event saw a record increase in bidders (both domestic and international) and the number of viewers on its LIVE online auction increased by 25%. The successful event boasts a 64% sales rate (an increase of 22% from last year) and a preliminary total sale of $8,507,344. Post sales are currently working, with full results posted by the end of next week.

The Monterey 2011 event was once again held at the downtown Monterey Marriott Hotel August 18-20, 2011. With its traditional “rolling preview,” online webcast, and packed auction block, audiences everywhere captivated with Russo and Steele’s energetic and interactive auction experience.

The owner of Russo and Steele Collector Automobile Auctions, Drew Alcazar said “Russo and Steele continues to exceed the standard by offering our clients with the highest level of customer service and by providing its consignors the option of reserve. Details such as these result in higher quality consignments and build infinitely more equity in our relationships. We are thrilled with the results as it is a true indicator of the market place.”

As the automobiles drove across the auction block, the crowds filled the room to capacity. As expected, standing room only resulted in an exceptional outcome. Drew Alcazar, said, “The quality and caliber of consignments this year far surpassed any to date. Without a doubt, the market continues to show strength for extremely desirable and well-documented examples.”

The top ten sales in the weekend were:

1966 Ferrari 275 GTS – Consignment 8593: Sold $ 654,500
1973 Porsche 911 Carrera RS 2.7 – Consignment 8610: Sold $286,000
1970 Plymouth Hemi Cuda – Consignment 8590: Sold $198,000
1959 DeSoto Adventurer – Consignment 8695: Sold $192, 500
1970 Chevrolet Chevelle SS 454 LS6 “Pilot Car” – Consignment 8510: Sold $181,500
1974 Ferrari 246 GTS Dino – Consignment 8529: Sold $181,500
1935 Lincoln Model K V12 – Consignment 8521: Sold $165,000
2008 Porsche GT-2 – Consignment 8696: Sold $176,000
1970 Ferrari 365 GT 2+2 – Consignment 8582: Sold $165,000
1967 Shelby GT500 – Consignment 8537: Sold $156,750

The combination of higher caliber automobiles and the intense excitement found on Russo and Steele’s auction block in Monterey left Russo and Steele’s clients eagerly anticipating the 12th Annual Scottsdale Auction this January 18-22, 2012 in Scottsdale, Arizona.

For additional information or images please contact Stephanie Quinn at Stephanie@russoandsteele.com or 602.252.2697.

About Russo and Steele Collector Automobile Auctions:

Russo and Steele Collector Automobiles is one of the nation’s premier collector car auctions; specializing in the world’s finest European sports cars, American muscle cars, hot rods and customs. Its two auctions each year attract clients all over the globe not only because of its reputation for stellar collector automobiles, but also unique auction experiences unattainable at any other collector car auction in the world. Its auction events take place with its signature auction in Scottsdale, Arizona every January, and Monterey, California in August. Additional information please visit www.russoandsteele.com or call 602.252.2697.

For more information, contact:

Stephanie Quinn
Phone: (602) 252-2697
Stephanie@russoandsteele.com

Source: Russo and Steele

 

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