GlobeNewswire

Russo and Steele Collector Automobile Auctions Exceeds Last Year's Results with 2016 Monterey Total Sales Generating $10.9 Million

Friday, Aug 26, 2016

SCOTTSDALE, Ariz., Aug. 26, 2016 (GLOBE NEWSWIRE) -- Following another exciting, high energy showing at the center of Monterey, California's world renowned collector car week events, Russo and Steele Collector Automobile Auctions earlier today announced incredible sales results with early totals reaching $10.9 Million. This represents sound, positive growth momentum exceeding 2015's results, solidifying Russo and Steele as a strong and expanding force in the premium collector automobile auction arena. The company continues to showcase their ever growing reputation as "The Most Exciting Collector Automobile Auction Company in the World". Russo and Steele also once again reported record shattering increases in attendance during this year's auction event, which is a tribute to the companies ever broadening, passionate and loyal fan base.
Some of Russo and Steele's most notable Monterey sales include:
1955 Mercedes-Benz 300 SL – $1,050,105.00
2004 Ford GT Prototype – $836,000.00
1993 Jaguar XJ220 – $435,000.00
2014 Mercedes Benz SLS Black Series – $418,000.00
2009 Ferrari 16M – $355,000.00
1970 Ferrari 365 GT 2+2 – $346,500.00
1988 Lamborghini Countach – $321,750.00
1957 Porsche 356 – $250,000.00
2000 Ferrari 550 – $194,700.00
1955 Facel-Vega FV1 – $181,500.00

"The additional revenue earned by Russo and Steele in Monterey in 2016 show that despite a particularly conservative marketplace, the segment we hold remains strong. Again like in Scottsdale 2016, we have exceeded 2015's results and are further evidenced that the real value of the Russo and Steele's brand as one that is committed to producing growth, no matter external factors may exist. It also articulates that our enthusiast driven approach of "cars and camaraderie" is striking a cord with both collectors and spectators alike", comments Russo and Steele CEO Drew Alcazar. "For us, it remains about generating excitement not only on the block, but prior to the sale which as proven by our results in Monterey, maximizes market value. Additionally, by continuing to offer the highest quality collector automobiles with the most integrity available anywhere, it demonstrates that we are also genuine automotive enthusiasts and that creates a true feeling within our client base, where we mutually view each other more like members of the extended family. As with all the events we produced in 2016, these results unquestionably show that mentality to not only being an honest one, but also a successful one as well. We really have to point to the support of our wonderful bidders, consignors and attendees and say thanks for what was Russo and Steele's most successful auction season to date. We can't wait to do it again in 2017!"
Next, Russo and Steele returns to the high desert of sunny Scottsdale, Arizona for its flagship event January 18-22. To market your collector automobile be sure to contact Russo and Steele's friendly and expert Consignment Specialists early to maximize your sale result!
For Enthusiasts – By Enthusiasts. ™ At Russo and Steele Collector Automobile Auctions, it's far more than a tagline. It's our lifestyle! For further supporting documentation, high-resolution images, or more advance information about any 2017 Russo and Steele auction event, please contact darin@russoandsteele.com

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A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=41246

CONTACT:Darin Roberge 
         602.252.2697
         darin@russoandsteele.com