Russo and Steele's 12th annual auction event in Scottsdale reports a preliminary total sales number of over $20.3 million dollars with a sales rate of 71%; with significant post-sales still pending.
For the 12th year in a row Russo and Steele's Scottsdale Auction has remained true to its tagline of "For enthusiasts- by enthusiasts" in delivering an action packed auction event with record turnout. Owner and CEO, Drew Alcazar commented that he was "extremely pleased with the smashing the 2011 attendance record for both general admission and registered bidders. In fact, nothing is better than having the ability to introduce thousands of new enthusiasts to the interactive, visceral experience that is Russo and Steele."
An overflowing auction block, one-of-a-kind cars and a record number of car-loving bidders led Russo and Steele to break 5 world records. From European sports to American muscle and hot rods to customs, this year's auction event held an impressing line up of cars to suit the needs of any collector.
Russo and Steele Collector Automobiles five world record breaking sales are:
1968 Chevrolet L-88 Corvette Roadster - $687,500.00
It has all the right equipment with the correct paperwork to verify its legitimacy. One of only 20 Roadsters produced in 1968 featuring the earth shaking, tire shredding, and asphalt burning L88! Once again fueling the American muscle car market Russo and Steele sold this L-88 for $100,000 over the old record.
1967 Ferrari 330 GTC - $429,000.00
The Ferrari 330 GTC model has become highly coveted by enthusiasts for its ease of maintenance, driving proficiency and manners. This particular model has undergone a Platinum level, Concours-quality rotisserie restoration and is a fine example of one of the most technologically advanced - and civilized Grand Touring cars of the time.
1967 Chevrolet Camaro Convertible - $357,500.00
Featured as a "Camaro for the street" in a 1967 issue of Hot Rod magazine, the Cherokee served Pace Car duties at Road America Can-Am under the helm of Sir Stirling Moss. This is a historic Camaro that has been well preserved and properly documented. It has a list of prominent owners and is offered as a true factory Hot-Rod.
1937 Mercedes-Benz 230 A - $159,500.00
Mercedes-Benz created three models of the 230 and designated each model by code letters. The automobile offered here is a beautiful example of the Cabriolet A and is a racy and relatively expensive sports model that is definitely a junior 540 K in appearance.
1971 Oldsmobile 442 W-30 Convertible - $132,000
This highly documented rare muscle car comes with original purchase order, vehicle invoice, broadcast card (documented letter from Helen Jones Earley in October of 1984), a copy of all three titles, letter from original owner, original owner's manual and most important, original window sticker.
One of Russo and Steele's featured cars, the 1965 Shelby 427 Cobra CSX3127 Street 427 Prototype, could have given the total sales number a pretty big bump, didn't sell during the auctions four day event. This 427 Cobra was the fourth of just 260 original 427 Street Cobra produced by Shelby. It is not a reproduction or continuation car, it is an original Cobra built at Shelby American in 1965.
CSX 3127 served as Shelby's test vehicle and to gauge customer response to the 427 Street cars. Factory records obtained from AC Cars Limited show that chassis number 3127, as listed on their invoice: "Prototype Mk.II Road Car, Unpainted, Black Leather", was completed and shipped to Shelby American in Los Angeles by air on April 30th, 1965. While most Cobras were shipped by boat to the States, the importance of 3127 is demonstrated by the fact that not only was it shipped by air, but also delivered to Shelby in bare aluminum, rather than painted. Shelby American records indicate they completed 3127 on September 9th, 1965, after which it was also used as Shelby's demonstrator and public relations car including a tour of duty on the famed Cobra Caravan tour.
Complete individual automobile results are posted online now. For further information, or full sales results from the Sports and Muscle in Scottsdale auction event visit www.russoandsteele.com. High-resolution images of specific cars and highlights of the auction are also available online in the media gallery.
Suggested Reading:
Barrett-Jackson's 2012 Scottsdale Auction Review
Gooding & Company's 2012 Scottsdale Auction Review
Bonhams First Scottsdale Sale Review
RM's 2012 Scottsdale Arizona Auction Review
