27 January 2017

Auction Recap: Russo and Steele Scottsdale 2017

Russo and Steele’s flagship Scottsdale sale moved to a new location this year, from its traditional spot in the lot at North Scottsdale Rd and the Pima Freeway to the Talking Stick Resort nearby. But the atmosphere was still the same, with the high-energy action on the block and a diverse group of several hundred collectible automobiles. In fact, the biggest difference in venue was the grass on the fields at Talking Stick, which is something of a luxury in the Arizona desert.

At the end of the five-day sale, Russo and Steele had sold 606 cars out of 780 offered, for $22 million in total sales and a sell-through rate of 78 percent. This was a healthy increase over last year, when the sale achieved $19.5 million and moved almost 200 fewer cars.

There was no shortage of budget, driver-quality classics on offer, but this year’s sale featured a surprising number of top-notch blue chip collector cars as well. Top sale of Russo’s week went to a beautiful 1954 Mercedes-Benz 300S Cabriolet. It failed to sell in Monterey back in August at a high bid of $425,000, but the consignor decided to take what he could in Scottsdale, and the car changed hands for $423,500. A very attractive, recently restored Ferrari Dino 246 GTS sold for $379,500, a 1969 Boss 429 Mustang sold for $335,500 and a gorgeous light blue 1959 Porsche 356A Sunroof Coupe with very rare bench seat sold for $125,000.

In between all of the Corvettes, Mustangs and Jaguars, there were some real oddballs as well. Among them were a 1953 Bandini 750 Sport (sold for $111,100), 1982 Checker Marathon Limousine (sold for $7,700), 1959 Echidna sports racer (not sold at $100,000), and a JDM 1989 Toyota Soarer (sold for $20,900).

Overall top 10:

  1. 1954 Mercedes-Benz 300S Cabriolet, sold for $423,500
  2. 1973 Ferrari Dino 246 GTS, sold for $379,500
  3. 1969 Ford Mustang Boss 429 SportsRoof, sold for $335,500
  4. 2006 Ford GT Coupe, sold for $261,250
  5. 2006 Mercedes-Benz SLR McLaren Coupe, sold for $253,000
  6. 1969 Ferrari 365  GT 2+2 Coupe, sold for $209,000
  7. 1970 Oldsmobile 4-4-2 W-30 Holiday Coupe, sold for $165,000
  8. 2011 Ferrari 458 Challenge Coupe, sold for $165,000
  9. 1962 Mercedes-Benz 190SL, sold for $154,000
  10. 2013 Ferrari California, sold for $151,250

Russo and Steele’s next collector car auction is the annual sale in Newport Beach, California, June 2–4, 2017.

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