The Russo and Steele Monterey 2011 auction was held August 18-20 at the Marriott Hotel in Monterey, California, resulting in total sales of $8.5 million and a 64% sell-through rate.
The 11th annual Russo and Steele Monterey “Sports and Muscle” event saw a record increase in bidders–both domestic and international–and a strong 22% increase in its sales rate from 2010. The Monterey 2011 event was again held at the downtown Monterey Marriott Hotel, resplendent with its “rolling preview,” packed auction block and Russo and Steele’s energetic and interactive auction experience.
Drew Alcazar, Russo and Steele owner, commented, “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.”
Alcazar continued, “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.”
Russo and Steele reported a preliminary total sale of $8,507,344, with many post sales still in the works. Full results should be posted by the end of next week.
Russo and Steele Monterey 2011 – Top Ten Auction Results
1. 1966 Ferrari 275 GTS – $654,500
2. 1973 Porsche 911 Carrera RS 2.7 – $286,000
3. 1970 Plymouth Hemi Cuda – $198,000
4. 1959 DeSoto Adventurer – $192,500
5. 1970 Chevrolet Chevelle SS 454 LS6 – $181,500
6. 1974 Ferrari 246 GTS Dino – $181,500
7. 1935 Lincoln Model K V12 – $178,942
8. 2008 Porsche GT-2 – $165,000
9. 1970 Ferrari 365 GT 2+2 – $165,000
10. 1967 Shelby GT500 – $156,750
Russo and Steele’s next sale is its 12th annual Scottsdale Auction, scheduled for January 18-22, 2012 in Scottsdale, Arizona. For more information, visit www.russoandsteele.com.
[Source: Russo and Steele]
