The Russo and Steele Newport Beach 2016 auction was held June 10-12 in Newport Beach, California, resulting in $6.4 million in total sales and a 57 percent sell-through rate.
Russo and Steele President and CEO Drew Alcazar said, “Once again, for our 4th consecutive year, the outstanding collector car community in Orange County as well as its surrounding areas have proven their commitment to Russo and Steele’s Newport Beach event, and us in turn have proven our commitment to them.Newport Beach has really become a very special event with a great deal of extended camaraderie felt between not only its local attendees, but also those that have recognized what an excellent destination event we have collectively created. We couldn’t be happier with the results of this ever expanding partnership. A huge thank you is due to all those that participated!”
A pair of 2006 Ford GT Coupes were the top sellers at the 2016 Russo and Steele Newport Beach sale, with a 2,500-mile example selling for $292,600 and a 2,850-mile GT bringing $275,000. Other notable results include a paint-to-sample 1979 Porsche 930 that sold for a strong $214,500, a 2006 Mercedes-Benz SLR at $225,500 and the $110,000 paid for a 1995 Land Rover Defender 90.
Russo and Steele Newport Beach 2016 – Top Ten Auction Results
1. 2006 Ford GT – $292,600
2. 2006 Ford GT – $275,000
3. 2006 Mercedes-Benz SLR – $225,500
4. 1979 Porsche 930 Turbo – $214,500
5. 1988 Ferrari Testarossa – $162,250
6. 1967 Shelby GT500 Fastback – $159,500
7. 1995 Land Rover Defender 90 – $110,000
8. 1958 Cadillac Series 62 Eldorado Biarritz Convertible – $107,250
9. 2005 Ferrari 430 Spider – $105,600
10. 1956 Chevrolet Corvette – $100,100
For complete auction results, visit RussoandSteele.com.
Russo and Steele will return to California for its 16th annual Monterey Auction August 18-20, 2016 during Pebble Beach Classic Car Week.
[Source: Russo and Steele]
