Auction Recap: Russo and Steele Monterey 2015

Russo and Steele’s 2015 Monterey auction had a noticeably different tone as the consignment field featured an interesting assembly of cars from emerging market segments. While 1960s muscle cars and 1950s fins and chrome were abundant, cars from the 1980s and later were generally more prevalent and overall results rose from $9.6 million in 2014 to $10.2 million this year. In all, 130 of 209 lots sold thanks to a flurry of post-block activity (a 62 percent sell-through rate) for an average price of $78,716.

Many of Russo’s high sales for the week came from the exquisite Thomas Scott collection, including a 2005 Porsche Carrera GT that sold for $781,000, including buyer’s premium. This sale was quite high and echoed other strong sales on the peninsula for the model, which underscores the market’s current infatuation with modern-day supercars. A 1966 Shelby GT350 fastback restored to a stunning standard set a world record for a street Shelby Mustang from 1966 at $313,500. Sunbeam Tigers also continued to show signs of life following 2014’s Monterey showing, with a 1967 Tiger II selling for $181,500.

Cars from the 1990s were generally strong at this event, with an automatic 1996 Toyota Supra Mk IV selling for $52,800, a 1997 Lamborghini Diablo VT roadster hitting $165,000, and a 1994 Porsche 964 Turbo selling for $214,500.

Overall Top 10 Sales:

1. 2005 Porsche Carrera GT Coupe sold for $781,000
2. 1971 Mercedes-Benz 280SE 3.5 Cabriolet sold for $440,000
3. 1958 Dual-Ghia Hemi Convertible sold for $412,500
4. 1966 Ferrari 330 GT SII Coupe 2+2 sold for $404,250
5. 1972 Ferrari 365 GTC/4 Coupe Sold for $330,000
6. 1966 Shelby GT350 Fastback sold for $313,500
7. 1989 Lamborghini Countach Coupe sold for $300,000
8. 1990 Lamborghini LM002A SUV sold for $300,000
9. 1959 Porsche 356A Cabriolet Sold for $250,000
10. 1994 Porsche 911 Carrera Turbo sold for $245,000

Russo and Steele’s next auction will be in Scottsdale, Ariz., Jan. 27-31, 2015. The event, which will take place a week later than usual, will feature approximately 750 vehicles.