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Ninth Annual Monterey
Auction Event A Success
Record
Attendance and Increased Sales Percentage
Monterey, California (August 18, 2009)
– Russo and
Steele Collector Automobiles, one of the nation’s premier collector car
auctions, specializing in European sports cars, American muscle cars, hot
rods and customs reports record breaking attendance, LIVE online auction
action and a successful ninth annual Monterey auction event.
The
Monterey 2009 event was once again held at the downtown Monterey Marriott
Hotel August 13-15, 2009. With its traditional “rolling preview,” the new
online webcast, and phone bidding audiences everywhere where mesmerized with
Russo and Steele’s energetic and interactive auction experience.
An
exciting auction that resulted in a two evening sale; the preliminary total
for the event is over $5 million in sales and a 55%+ sales rate. Post sales
are currently working, with full results posted by the end of next week.
Russo and Steele catered to the current conservative market trend by
increasing the number of high quality automobiles in the $100,000 to the
$500,000 market value. This allowed the auction company to provide its
clientele with the exquisite automobiles that they were currently in the
market to buy. These results prove the market is still strong when selling
impeccable collector automobiles with provenance.
New to
Russo and Steele this year was the LIVE online auction webcast: “The
overwhelming success of the webcast was shocking! Within 2 minutes of us
testing the webcast prior to the auction starting we had over 250 people
watching and it increased at amazing speeds as the night progressed” said
Brian Quinn, Russo and Steele’s General Manager. The owner, Drew Alcazar
said “Our clients and enthusiast’s have proven their passions for this
hobby. We have continually stated that “for enthusiasts by enthusiasts” is
not just a tag line, but a lifestyle for us and the webcam allowed us to
open up our highly unique and exciting auction to fellow enthusiasts that
were not able to make it to the event.”
Friday night’s auction, August 14th, 2009 set record numbers in
attendance. As the automobiles drove across the auction block, the crowds
filled the room to capacity. As expected, standing room only resulted in an
exceptional outcome. Dr. Porsche’s 1961 356 Carrera 2/2000 GS sold after a
lively battle for $330,000. Saturday night’s auction held the auction’s top
sale with the 1964 Shelby Cobra CSX 2492 selling for $475,000.
The
quality of collector automobiles in this year’s Monterey auction event
continued to earn the praise from both the media and our international
clientele that were perusing the inventory all week in Monterey.
Drew Alcazar, said, “The marketplace
in Monterey performed as we anticipated. We intentionally selected
automobiles within the range of $100,000 to $500,000 to better serve the
projected market place. Without a doubt, the market continues to show
strength for extremely desirable and well-documented examples; Dr.
Porsche’s 1961 356 Carrera 2/2000 GS, the 1939 Alvis Speed 25 Tourer, and
the 1964 Shelby Cobra CSX 2492 among many others are clear evidence of
this.”
“The
quality and caliber of consignments this year far surpassed any to date.
I believe that this selection of automobiles proves our ALL
RESERVE format is working. This platform benefits everyone. The consignors
get a measure of control over the sale of their automobile, the auction
house has the opportunity to increase the quality of its selection offered
at the sale, and bidders have the opportunity to buy some of these stellar
automobiles that might not otherwise be available. Russo and Steele is
merely the first auction to realize this, but I am sure we won’t be the
last” Alcazar continued. |
