Russo and Steele Collector Automobiles celebrated its 10th Anniversary

Monterey, CA (Aug 17, 2010) -- With its traditional “rolling preview,” the online webcast, and interactive auction experience the Monterey 2010 event was once again held at the downtown Monterey Marriott Hotel August 12-14, 2010. Russo and Steele Collector Automobiles celebrated its 10th Anniversary by kicking off its 3 nights of auction with a cocktail reception that left the Marriott Hotel bursting at the seams.
Highlights from the auction event were the three world records with the sale of a 1972 Ferrari 365 GTC/4 for $165,000, a 1967 Ferrari 330 GTC production for $275,000 and the impeccable 1965 Shelby Cobra CSX2461 street car for $649,000. The high seller for the weekend was the 1971 Trans Am AMC Javelin Mark Donohue Championship Car with a sale of $847,000. On top of those outstanding sales, Russo and Steele saw a flurry of bidding for both the 1971 Mercedes Benz 280SE 3.5 that resulted with a sale of $170, 500 and the 1969 Shelby GT 500 that sold for $242,000.

The inaugural Thursday night was a successful one with strong bidding and an encouraging night of sales; while Saturday night was a smashing success showing why Russo and Steele Collector Automobile Auction Events are truly a marvel to experience. Overall the auction event resulted in a preliminary total of $7+ million in sales (that is over $2,000,000+ increase in total sales from 2009) and around a 42%+ sales rate. There are a number of post sales currently working, with full results posted by the end of next week.







Once again, the quality of collector automobiles in this year’s Monterey auction event continues to earn praise and reaffirm Russo and Steele’s reputation for high quality automobiles. The owner, Drew Alcazar said “the record number of over 750 registered bidders from 25 countries around the world, made up of countries from Brazil to Japan, and the United Arab Emirates to Australia was a direct result of the high-caliber of automobiles and our established reputation of being for enthusiasts by enthusiasts. The market continues to show strength for extremely desirable and well-documented automobiles. We were pleased with the inaugural Thursday night performance and very proud of the overwhelming success of Saturday night. There is no doubt in my mind that with the bidding and energy on the block Saturday night Russo and Steele was the place to be.”




Article Courtesy of Russo and Steele
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