Russo and Steele Monterey, California
BY THE NUMBERS
Total Sales: $7.1 million
Sell-Through: 42.5 percent (62 of 146 lots)
Top Sale: 1955 Mercedes-Benz 300 SL; $1,210,000
UPCOMING DATES
January 15-19: Scottsdale, Arizona
March 4-6: Amelia Island, Florida
FOR MORE INFORMATION
www.russoandsteele.com602-252-2697
If you’re a vintage vehicle aficionado, Monterey Car Week should be on your bucket list. The annual mid-August festival is bursting at the seams with static car shows, high-speed vintage racing, area tours, and new-car test drives, all of which culminates in the world-renowned Pebble Beach Concours d’Elegance. Not to be left out are no less than six auctions spread across the peninsula, including Russo and Steele, which was celebrating its 19th year by the bay.
Russo and Steele set up its auction block in the vast parking lot adjacent to Fisherman’s Wharf, complete with a 146-lot catalog brimming with all manner of vehicles. If the number seems low for a Russo and Steele sale, it’s because the company has been redirecting its Monterey focus on quality consignments in lieu of volume. It’s a tactic that seemed to work heading into the 2019 event, which ran the evenings of August 15-17. There was also a full-day preview on August 14, during which several big-ticket cars were under wraps.
Not unexpectedly, an exotic from across the pond lead the charge to the top of the sales column this year: A spectacular 1955 Mercedes-Benz 300 SL that realized a $1,210,000 result. Domestic models made a solid showing, with a 1965 Shelby 289 Cobra landing second on the list, having achieved $962,500. Another 300 SL “gullwing,” this time a ’58 model, was third overall at $935,000. That was followed by another Shelby — a ’65 G.T. 350 — that realized $412,000. Rounding out the top five was a 2018 Ferrari 488 GTB that brought $253,000 (all results include a buyer’s premium).
Collectively, Russo and Steele amassed $7.1 million in sales. That was $100,000 over last year, despite a sell-through rate of less than 43 percent, but enough to make it the only auction in town that showed an increase over 2018.
As of this writing, Russo and Steele is preparing for its Scottsdale, Arizona, auction in January,.
