Russo and Steele Exceeds $12M Monterey!

August 21, 2014 by Russo & Steele

Scottsdale, Arizona (August 21, 2014) – After a thrilling week of camaraderie and cars down by the waterfront at Fisherman's Wharf in beautiful downtown Monterey, we are now busy closing the books on our fourteenth annual Monterey auction event. Russo and Steele Collector Automobile Auctions wish to thank all of our buyers, consignors, friends, family, sponsors and vendors for making the event so very special for us all.

To briefly recap, Russo and Steele's 2014 Monterey auction event produced total sales of $12,074,960.00, which represents a 63% increase over last year's results. Exceptional pre-sale interest, record crowds, and fierce bidding defined much of the event, with action on the block reaching an all-time high. Average sale price was up substantially, reaching over $115,000 plus, and representing a per sale increase of 45%. Once again, our world championship auction staff, proved they are the hardest working in the business, buy egging on several intense exchanges: often times long after the reserve had been pulled, and bringing the already highly intense energy in the room to feverish levels. The response to the 1956 Mercedes-Benz 300SL Gullwing Coupe was particularly thrilling as it hammered home a price of $1,320,000.00.

Notable sales included:

1956 Mercedes Benz 300SL 'Gullwing' Coupe at $1,320,000.00

1957 Mercedes Benz 300SL Roadster at $1,210,000.00

1972 Ferrari 365 GTB/4 'Daytona' Coupe at $731,500.00

1964 Ferrari 330 America at $505,000.00

1969 Ford Mustang Boss 429 Sportsroof at $401,500.00

1984 Lamborghini LP500S at $327,500.00

1983 Ferrari 512 BBi sold for $269,500.00

1970 Ferrari 365 GT 2+2 sold for $233,750.00

1966 Sunbeam Tiger at $149,600.00

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1957 Lincoln Continental MKII at $132,000.00

We would also like to take this opportunity to thank our many event sponsors and vendors and encourage you to take advantage of their excellent products, services, and publications when you do business! Early official results are now posted on our website! Be sure to stay tuned to www.russoandsteele.com for further updates as they become available.

Continuing our trademark 'For Enthusiasts – By Enthusiasts' philosophy at Russo and Steele Collector Automobile Auctions, we will return to the world famous 'Las Vegas Strip' September 26-27 for our famous Las Vegas auction at the New Tropicana Las Vegas. For further supporting documentation, high-resolution images, or more information about the Russo and Steele Monterey 2014 auction, please contact Darin Roberge at darin@russoandsteele.com.

About Russo and Steele Collector Automobile Auctions

One of the nation's premier collector-car auction houses, Russo and Steele Collector Automobile Auctions continues to set records and attract discerning clients worldwide. In addition to our reputation for offering stellar collector automobiles, our unique auction experience is simply unattainable anywhere else. Auctions include our signature event in Scottsdale, Arizona every January, followed by June at Newport Beach, August at Monterey, and September's Las Vegas auction. For additional information, please visit www.russoandsteele.com or call 602.252.2697.