After much fanfare surrounding their new venue at Salt River Fields at Talking Stick, Russo and Steele Collector Automobile Auctions has annoucned market-leading sales results with early totals reaching $22.1m on 780 lots offered with 606 hammering sold. This represents an impressive sell through rate of 78%, helping the auction company’s Scottsdale numbers grow seven figures over 2016’s previously impressive showing.
Russo and Steele was Scottsdale 2017’s only major auction house to garner two consecutive years of positive growth momentum.
Some of Russo and Steele’s notable American car sales in Arizona include a 1969 Ford Mustang Boss 429, sold at $335,500, and a 2006 Ford GT, sold at $261,750.
“Once again, our team has brilliantly demonstrated that our segment within the current collector car marketplace is highly robust, that true enthusiasts confidently perceive this and that they recognize Russo and Steele’s position as the resounding market leader within that segment,” comments Russo and Steele CEO Drew Alcazar. “This year, with our move to our incredible, long term new home at Salt River Fields at Talking Stick the enthusiasm captured by Russo and Steele has never been higher. However, it still fundamentally demonstrates that our clients genuinely value our customer service focused philosophy of cars and camaraderie and that the most desirable core component of a successful automotive event in Scottsdale remains the cars. At Russo and Steele it’s not about creating a three ring circus where the auction becomes a secondary attraction. It’s about offering the highest quality collector automobiles with the most integrity available anywhere and then maximizing the market value of those premium offerings on the block in a manner that resonates with sellers, buyers and attendees at a deep emotional level. We are genuine automotive enthusiasts and we treat our clients like family. These results unquestionably point to that mentality, which we continue to maintain at Russo and Steele as being the best in Arizona, year after year,” Alcazar continues. “With that said, we would like to thank our amazing new partners at the Salt River Pima-Maricopa Indian Community and the Team at Salt River Fields at Talking Stick for their hard work and their dedication to producing what was Russo and Steele’s most successful event to date. We are incredibly grateful for their support and look forward to continually raising the bar with them for many years to come.”
While Scottsdale 2017 post sale continues, the staff at Russo and Steele begins to set its sight on its return to the coast for its 5th annual Newport Beach auction June 2-4 and 17th annual Monterey Auction August 17-19. To market your collector automobile be sure to contact Russo and Steele’s friendly and expert Consignment Specialists early to maximize your sale result!