The 11th Annual Russo and Steele Monterey 2011 Event saw a record increase in bidders (both domestic and international) and the number of viewers on its LIVE online auction increased by 25 per cent.
The event boasted a 64 per cent sales rate—up 22 per cent from last year—and a preliminary total sale of US$8,507,344.
The Monterey 2011 event was once again held at the downtown Monterey Marriott Hotel August 18-20, 2011, and included a “rolling preview,” online webcast, and packed auction block.
“Russo and Steele continues to exceed the standard by offering our clients the highest level of customer service and by providing its consignors the option of reserve, said Drew Alcazar, owner of Russo and Steele Collector Automobile Auctions. “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 auction outcome.
“The quality and calibre of consignments this year far surpassed any to date,” said Alcazar. “Without a doubt, the market continues to show strength for extremely desirable and well-documented examples.”
The combination of higher calibre automobiles and the intense excitement found on Russo and Steele’s auction block in Monterey left buyers eagerly anticipating the 12th Annual Scottsdale Auction this January 18-22, 2012 in Scottsdale, Arizona.
The top-10 sales at Russo’s 2011 Monterey weekend were as follows:
All prices in U.S. dollars
1966 Ferrari 275 GTS – #8593: Sold $ 654,500
1973 Porsche 911 Carrera RS 2.7 – #8610: Sold $286,000
1970 Plymouth Hemi Cuda – #8590: Sold $198,000
1959 DeSoto Adventurer – #8695: Sold $192,500
1970 Chevrolet Chevelle SS 454 LS6 – #8510: Sold $181,500
1974 Ferrari 246 GTS Dino – #8529: Sold $181,500
1935 Lincoln Model K V12 – #8521: Sold $178,942
2008 Porsche GT-2 – #8696: Sold $165,000
1970 Ferrari 365 GT 2+2 – #8582: Sold $165,000
1967 Shelby GT500 – #8537: Sold $156,750
For the full list of sales, visit www.russoandsteele.com.