Sports and Muscle in Scottsdale Results – Russo and Steele
Russo and Steele held its 2009 Sports & Muscle in Scottsdale auction January 15-18 in Scottsdale, Arizona. Their 9th Annual Scottsdale Auction achieved total results of $17.5 million and a 48% sale rate.
Drew Alcazar, co-owner and CEO of Russo and Steele commented, “I knew that our all reserve platform would affect the total sales and sales rate percentage when I choose to implement this change. However, Russo and Steele is now the one true representation of the current market by eliminating owner buybacks. In addition, I believe that the platform was worth a few percentage points in the sales rate to provide our clients with a fair, level playing field. Clearly our platform benefited our marketplace by producing the highest level of quality inventory and the lowest level of change in total sales, by half, when compared to other auctions.”
Russo and Steele offered 597 automobiles for sale, with 286 finding a new owner, reflecting a 48% sales rate. Total sales volume was $17,527,120, inclusive of buyer’s premiums. The average price per car sold was $61,283.
In 2008, Russo and Steele offered 490 automobiles for sale, with 298 finding a new owner, reflecting a 61% sales rate. Total sales volume was $19,144,455, inclusive of buyer’s premiums. The average price per car sold was $64,243.