. January 29, 2008

SCOTTSDALE, Ariz., – 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 a tremendous start for its 2008 year with its Scottsdale Auction Event total results of $19,831,080 and a 61% sale rate. Despite the current fears in today’s market, Russo and Steele came out with numbers comparable to Scottsdale 2007.

The Scottsdale 2008 event was held in over 200,000 square feet of tents at the intersection of the Loop 101 Freeway and Scottsdale Road, in North Scottsdale. With improvements like the VIP LOUNGE and specialized bidder seating Russo and Steele’s auction had standing room only at its four day event.

Russo and Steele also announced during this year’s event plans to implement a format change to an ALL RESERVE sale in 2009. The owner, Drew Alcazar, believes that this format change will serve to best perpetuate the high level of integrity enthusiasts have come to expect from the company, now in its tenth year.

Russo and Steele’s Scottsdale 2008 event’s top five sales were a 1969 Chevrolet Corvette $412,500, a 1971 Plymouth Cuda Coupe $396,000, a 1969 Chevrolet Chevelle Coupe $341,000, a 1971 Ferrari 365 GTB Coupe $319,000, and a 1966 Lamborghini 350 GT Coupe $283,800.

“Our clients and enthusiast’s have proven their passions for this hobby and those passions were realized through the robust sales of our high quality offering of our European Sports, American Muscle, Hot Rods and Customs. A heartfelt thank you to one and all for once again joining Russo and Steele for our flagship event,” said Drew Alcazar, owner of Russo and Steele.

The inaugural event in Hollywood Florida, March 27-29, 2008 will debut at the Seminole Hard Rock Hotel and Casino in Hollywood, Florida; followed by its 9th Annual “Sports and Muscle in Monterey” event at the downtown Marriott Hotel in Monterey, CA in August.

For further information, or full sales results from the “Sports and Muscle in Scottsdale” event visit High-resolution images are available of specific cars offered at Russo and Steele’s “Sports and Muscle in Scottsdale” auction.

About Russo and Steele Collector Automobile Auctions
Russo and Steele Collector Automobiles is one of the nation’s premier collector car auctions, specializing in European sports cars, American muscle cars, hot rods and customs. Two auctions have been staged each year with the signature auction taking place in Scottsdale, Arizona every January, followed by Monterey, California in August. 2008 marks the addition of a third auction, in Hollywood, Florida.

Category: Auction News

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