Russo and Steele Smashes World Record in Monterey

Russo and Steele Smashes World Record in Monterey

1956 Alfa Romeo Sprint Veloce Coupe 'Ultra Light' Breaks the World Record When Sold in Monterey, CA

Monterey car week was buzzing when Russo and Steele opened its gates and allowed car enthusiasts into its venue for the first time this August 16-18, 2012. The venue was everything Russo and Steele had promised and more with staging lanes, lifestyle vendors, live entertainment and the perfect setting to view classic cars in Monterey, CA.

To kick off the Saturday night auction Russo and Steele unveiled and then auctioned Enzo Ferrari's famed Ferrari Prancing Horse or 'Cavallino Rampante.' The auction block was standing room only as the Ferrari enthusiasts and auction attendees began a spirited round of bidding for the opportunity to take home an international icon and a piece of Ferrari history. In the end Enzo Ferrari's Prancing Horse sculpture sold for $86,250 and setting the Russo and Steele auction block a blaze of bidding throughout the evening.

As the block began to heat up at the Russo and Steele 12th Annual Sports and Muscle Monterey auction enthusiasts watched as the 1956 Alfa Romeo Sprint Veloce Coupe 'Ultra Light' smashed a world record with its sale of $302, 500 on the block. The new location combined with the intensity and excitement known only at Russo and Steele had the Monterey auction block downright palpable. This year's Monterey preliminary total sales exceed $10 million dollars; with a few significant post sales pending.

For the 12th year in a row Russo and Steele's Monterey Auction remained true to its tagline of 'For Enthusiasts- By Enthusiasts' in delivering an action packed auction event with record turnout. Owner and CEO, Drew Alcazar commented that he was 'Looking out to an overflowing auction block was nothing but vindication that the critical step of creating a new venue in Monterey was not only essential, but has now launched Russo and Steele in a dramatic step forward. We are pleased that Russo and Steele and the City of Monterey have secured a long term partnership agreement that has enabled Russo and Steele to lay this foundation for a very exciting future here in Monterey, California. '

Other top sales results were:

1965 Shelby Cobra

$781,000

1972 Ferrari 365 GTB/4

$379,500

1972 Ferrari Dino 246 GT

$363,000

1966 Shelby GT350

$236, 500

2006 Mercedes Benz SLR

$237, 600

A complete list of auction results will be posted shortly. For further information, or high-resolution images of specific cars and highlights of the auction are available online in the media gallery. For more information, contact: Stephanie Quinn Phone: (602) 252-2697 Stephanie@russoandsteele.com

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 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 every August. For additional information please visit www.russoandsteele.com or call 602.252.2697.

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