A freak storm engulfed Scottsdale area during the 2010 classic auction week in January, with Russo and Steele getting the most damage to cars when two tents collapsed due to gale force winds. Although the auction resumed two days later, it took most of 2010 to have claims that were initially made against Russo and Steele either dismissed or dropped completely.
Then in November, the company announced that it was moving its venue to a new location, but had to retract that statement just six weeks before the event. Alcazar explained “the City of Scottsdale was unable to honor their side of the agreement due to my “buddy” across the street.”
But none of the stress seemed to affect this high energy auctioneer’s excitement and enthusiasm for how well things were coming together for this year’s collector car auction. Over six hundred cars are scheduled to cross the block in the new and nearly 50,000 square foot Losberger Structure erected for the main auction arena. Alcazar explains that without the continuous support of his customers, business associates and media, this strong come-back wouldn’t have been possible.
Drew and his wife Josephine have worked tirelessly through every detail to create the vision they have for this year’s event. And Russo and Steele regulars will be pleased to see the intimate “auction in the round” that they’re accustomed to still in place, just bigger and better.
The staging lanes have the biggest changes; they’re now undercover and five lanes wide. Alcazar states that bidders can expect cars to be available in the staging lanes for viewing up to 1.5 hours prior to going under the hammer.
We asked Drew to share what his advice would be to hobbyists wanting to buy a car during the annual Scottsdale auctions and his top five suggestions are:
- Do your homework and learn as much as you can about the make and model car you want to buy.
- Buy the best car you can get for the money you have budgeted rather than putting money into a restoration.
- Stay focused on what you came buy and why you wanted to buy it, don’t let distractions stop you from getting the car of your dreams.
- Don’t overbid your budget, but bid boldly, it can intimidate other bidders.
- Let the auction assistants in the ring know that you’re interested in a car, they are there to help you.
A far as the state of the market today, Alcazar feels that pricing and market values for collector cars are more stable now than they have been in the last 5 years. Good cars are going for good money, but right now is the perfect opportunity to buy American Muscle because their value is back on track to trend upward. Interestingly Alcazar also brought forward a scenario as to the increasing number of collections which are being “culled” at this time as several collectors bring about change in the balance of their portfolios. This will put some excellent quality cars into the market.
Russo and Steele’s 11th Annual Collector Car Auction starts Thursday, January 20th and you can watch all the action live on the company’s website.
