Russo and Steele Monterey 2012 – Auction Report

Lot # S610 1966 Alfa Romeo Giulia Sprint; S/N AR615325; Red/Black vinyl; Modified restoration, 2 condition; Hammered Sold at $29,000 plus commission of 10.00%; Final Price $31,900 – 1750cc engine, 5-speed, dual Weber 45 DCOEs, limited slip diff, Panasport wheels, Yokohama Advan tires, aluminum radiator, 4-point harnesses, trunk-mounted fuel cell and sealed battery, wood rimmed steering wheel, braided stainless steel hoses throughout. Outstanding paint, mechanicals and interior. Fun car. No Reserve. Sold at a price much lower than the cost of construction and a good value in a seemingly well built and presented Alfa.

Lot # S615 1967 Jaguar XKE SI 4.2 Roadster; S/N 1E15398; Blue metallic/Black leather; Older restoration, 3- condition; Hammered Sold at $65,000 plus commission of 10.00%; Final Price $71,500 – Chrome wire wheels, open headlights. Color change from original and desirable Carmine Red applied poorly. Sanding marks on trunk, wavy passenger rear fender, paint rubbing and chipped at rear edge of trunk, crazing around driver’s door handle, cracking on hood louvers, body rubber poorly installed. Chassis and mechanicals well sorted and clean. A sound car that just needs paint and bodywork. Had the bidders been turned off by the questionable body condition this would have been the car to scoop up at a low price and repaint. At this price, the margins for coming out ahead after repairs are narrow at best and the buyer paid full retail for a car that won’t be very satisfying to own in this condition, but even less after the expense of dealing with its cosmetic issues.

Lot # S616 1973 Porsche 911 Targa; S/N 9113310442; Black/Black leather; Recent restoration, 2- condition; Hammered Sold at $76,000 plus commission of 10.00%; Final Price $83,600 – 4-speed, Targa, Fuchs alloy wheels, U.S. spec headlights, sport steering wheel. Color change from original silver. Excellent cosmetics. Paint and interior show extensive restoration. Mechanicals very good but not to the level of car’s cosmetics. Engine rebuilt with modern Carrera tensioners, Turbo valve covers and stainless heat exchangers. Despite huge vinyl decals proclaiming “#s Matching” this was a good, but not original car. The 911S is valuable because it came from the factory with the most possible performance save the potent and very limited production RSs and RSRs. Things altered and added after the car left the factory only hurt its value. So this car had the original engine. It didn’t have its original color combination and it also had the less desirable Targa top. The price was fair.

Lot # S641 1966 Ferrari 330 GTC Coupe, Body by Pininfarina; S/N 09125; Ruby Red metallic/Cream leather; Recent restoration, 3+ condition; Not sold at Hammer bid of $365,000 – Borrani wire wheels, modern radial tires, Blaupunkt AM/FM, A/C, P/W. Excellent trim, panel fit and paint. Cream leather is barely used with no staining, dirt, or stretching. Chassis is mostly clean with only slight traces of dirt. The ruby red metallic is an eye-catching shade and compliments the 330′s shape well. A nicely-restored 330 GTC ready for both show field and road. While 330 GTCs can bring more money than this car’s $365,000 final bid, they are cars that have received a comprehensive restoration, which this car plainly lacks. This was a fair offer that the seller will be hard pressed to better.

Lot # S643 1972 Ferrari 365 GTB/4 Daytona, Body by Pininfarina; S/N 16565; Black/Tan leather; Recent restoration, 3 condition; Hammered Sold at $345,000 plus commission of 10.00%; Final Price $379,500 – Borrani wire wheels, headrests, P/W. Mouse fur dash covering is overly dark and interior retrim shows some waviness in seams and stitches. Inconsistent bodywork – particularly the wavy driver’s door – is highlighted by the black paint. Current colors are a change from the original sky blue over black. Underside of chassis is clean and free of damage. Engine compartment equipped with MSD ignition boxes covered in Ferrari decals. An inconsistent car. Given the strange choices made in this car’s restoration, its price leaves the new owner with no room to correct its numerous shortcomings. The new owner better enjoy driving it.

Lot # S645 1956 Alfa Romeo Giulietta Veloce Sprint, Body by Bertone; S/N 1493E02239; Engine # AR131530135; Blue/Grey, Blue piping; Competition restoration, 2+ condition; Hammered Sold at $275,000 plus commission of 10.00%; Final Price $302,500 – 4-speed, Nardi woodrim steering wheel, chrome spoke Borrani wire wheels, lightweight equipment, no bumpers, sliding side windows. Represented as 1957 Mille Miglia 11th overall, 4th in class, but that result is inconsistent with the race record in Time and Two Seats. Restored better than new with excellent paint, chrome and interior. Freshly done and spotless. Shown at Pebble Beach in 2005. Consignment # 2067. By any standard the best presented Alfa in Monterey, meticulously done throughout and with very desirable equipment. The claimed Mille Miglia history is as noted inconsistent with authoritative sources, however other documents offered with the car – recent letters and e-mails, not historic paperwork – represent it as 4th in class, 29th overall. The price must be heavily influenced by the presumed claim and its attendant effect upon eligibility for the MM re-enactment. The MM organizers won’t be so easily satisfied and this result is a huge gamble without a high probability of success in the absence of period Italian documents.

Lot # S646 1960 Porsche 356B Roadster; S/N 88125; Ruby Red/Tan leather; Black cloth top; Recent restoration, 2 condition; Hammered Sold at $92,000 plus commission of 10.00%; Final Price $101,200 – Nardi wood-rimmed steering wheel, chrome wheels and hubcaps. Excellent paint and interior. Very well detailed but later 356C 1600cc engine. Nothing but evidence of an expensive restoration. No Reserve. Even in the increasingly expensive world of Porsche 356s, this is a healthy price for a good Roadster with a replacement engine.

Lot # S647 1972 Ferrari 246 GTS Dino; S/N 04996; Rosso Corsa/Tan leather; Recent restoration, 2+ condition; Hammered Sold at $330,000 plus commission of 10.00%; Final Price $363,000 – Michelin XWX blackwall tires, Daytona seats, standard unflared fenders. Very recently restored. Outstanding paint and bodywork, impeccable interior, and as-new engine compartment. Fresh from receiving a platinum award during the weekend’s Concorso Italiano. A new car. As Dinos go this wasn’t the highest “chairs and flares” spec, but it was incredibly well restored and the price reflects the demand for a car without need or flaw. Even more than the crazy money Dino at RM this result equates 246 GTS Dinos with V-12 Daytona coupes. That relationship seems skewed, and not because Daytonas are cheap.

Lot # S649 1965 Shelby Cobra 289 Roadster; S/N CSX 2538; Red/Black leather; Recent restoration, 2- condition; Hammered Sold at $710,000 plus commission of 10.00%; Final Price $781,000 – Dual quads, side vents, rack and pinion, chrome wire wheels, wind wings, chrome front and rear bumpers, grill insert. Represented as numbers matching. Excellent paint and bodywork. New seating material is thick, dull and strange. Oversize modern black wall tires bulge out of the front wheel wells. Odd choices displayed on a desirable car. Consignment # 2084. Late production small block Cobras continue to earn significant prices and this car’s few questionable choices are easily corrected for a small fraction of a fair selling price. But this is still a strong price for this car. The new owner paid dearly to buy a few months after Carroll Shelby’s demise and there’s nothing left for future appreciation.