|On Saturday evening at Russo and Steele’s 13th Annual Sports and Muscle Auction, Drew Alcazar, CEO and co-owner of Russo and Steele made the announcement of two new auction events, Newport Beach and Las Vegas, growing the company by 100% in 2013.
From European sports cars to American muscle to hot rods and customs, this year’s auction event held an impressive lineup of cars apt to fit the needs of any collector. Russo and Steele made a strategic decision to consign more automobiles that cater to a large spectrum of enthusiasts, gathering more middle-of-the-market inventory instead of an increase in upper six- to seven-figure automobiles, with the objective to maximize the current market climate. Russo and Steele’s Scottsdale auction reports a preliminary total sales number of over $17.5 million dollars with a sales rate of 68%; with significant post-sales still pending. The top five sales from the 13th Annual Russo and Steele auction were:
1958 Mercedes Benz 300 SL Roadster
In excellent cosmetic and mechanical condition, chassis 198.042.85000154 is a numbers-matching and highly desirable 1958 300SL Roadster that continues to benefit from the apparent care of its past owners. Sold: $727,100
1969 Chevrolet Camaro ZL1 Coupe
Featuring a host of original documentation, including the original GM Protect-O-Plate and warranty booklet, letter of authenticity from Fred Gibb himself, dealer invoice, the transportation company bill of loading with other ZL1s, a copy of the Fred Gibb inventory sales record, copies of previous titles and full owner history. Sold: $605,000
1969 Chevrolet Douglass Yenko Camaro Coupe
This car has been a favorite of many at numerous “Super Car Reunions.” It has been included in the Super Car Registry. It was also featured at the Muscle Car and Corvette Nationals where it was awarded the coveted Gold Spinner Award as well as a Top Gun, Best of Show award. Sold: $253,000
1940 Packard Darrin Convertible Custom
It has been driven over 27,000 miles since restoration, mostly to shows in the West. It has consistently taken “First Place,” “People’s Choice” and “Best of Show” honors in every show in which it has been entered. Sold: $242,000
1969 Ford Mustang Boss 429
Rotisserie restored, original matching-numbers car and completely documented. KK #1431 has complete documentation including original build sheet, copies of the Kar Kraft and Ford invoices and a list of all owners to verify authenticity and history. Sold: $233,750
Embodying the tagline of “For enthusiasts—by enthusiasts” Russo and Steele delivered its interactive, visceral experience in another successful year in Scottsdale. Drew Alcazar remarked that he was “pleased with Scottsdale’s results and the tremendous response that the announcement about our two new auctions has produced. Typically, at this time we have the phones ringing off the hook asking about results from Scottsdale – this year we fielded double the number of calls, but it was from enthusiasts and clients alike asking about the new events and how they can start planning to attend them.”
Complete individual automobile results will be posted online. For further information please visit www.russoandsteele.com.