The Russo and Steele Monterey 2017 auction was held August 17-19 in downtown Monterey, California, resulting in $8.6 million in total sales and a 52 percent sell-through rate. With a nearly 15 percent reduction in vehicles offered, the three-day auction once again saw record crowds visit Russo’s waterfront venue at Fisherman’s Wharf.
“Our primary objective in Monterey in 2017 was to adhere to much more selective Consignment process and as such offer the cars the market wanted at very appropriate reserves,” commented Russo and Steele CEO Drew Alcazar. “This simple approach equated to an exciting, dramatic sale, ending with a packed, standing room only event, every night of auction and the words “Sold, Sold, Sold!” echoing throughout every corner of downtown Monterey.”
The top result at this year’s auction went to the 1961 Ferrari 250 Europa Coupe that sold for $1,155,000, followed by the 2005 Porsche Carrera GT that made $671,000 and the 2008 Mercedes-Benz SLR McLaren Convertible at $352,000.
Russo and Steele Monterey 2017 – Top Five Auction Results
- 1961 Ferrari 250 Europa Coupe – $1,155,000
- 2005 Porsche Carrera GT – $671,000
- 2008 Mercedes-Benz McLaren SLR Silver Arrow – $352,000
- 1966 Shelby Ford Mustang GT350 – $297,000
- 1983 Ferrari 512 BBi – $231,000
For complete auction results, visit RussoandSteele.com.
Russo and Steele will next return to Arizona for its flagship Scottsdale auction January 17-21, 2018.
[Source: Russo and Steele]