27 August 2014

Auction Recap: Russo and Steele’s 2014 Monterey sale

Russo and Steele’s 2014 Monterey auction was its best since 2006, and represented a massive 63-percent improvement over last year’s total. Final numbers came in at $12.1 million, thanks to the staff’s diligent post-block activity. In all, approximately 102 of the 185 cars offered found new homes.

Leading the way was a 1956 Mercedes-Benz 300SL Gullwing that sold for $1.32 million, including buyer’s premium. A 1957 roadster version of the same car placed second at $1.21 million, and a 1972 Ferrari 365 GTB/4 Daytona coupe earned $731,500 to round out the top three.

1964 Ferrari 330 America showed how far 2+2 Ferraris have come by inspiring spirited bidding all the way up to a $495,000 sale price. Likewise, while the rise of early Countach prices has been well documented by now, the $325,000 that a 1984 model garnered demonstrated that collectors are increasingly turning to later cars as well. Tigermania was also alive at the tent at Fisherman’s Wharf as Russo and Steele sold a 1966 Sunbeam Tiger for a strong $149,600. Excitement was present at the lower end of the spectrum, too, as an unmodified 1968 Fiat 124 Spider surprised with a $26,000 sale price.

Overall Top 10 Sales:

  1. 1956 Mercedes-Benz 300SL Gullwing Coupe sold for $1,320,000
  2. 1957 Mercedes-Benz 300SL Roadster sold for $1,210,000
  3. 1972 Ferrari 365 GTB/4 Daytona Coupe sold for $731,500
  4. 1964 Ferrari 330 America 2+2 Coupe sold for $495,000
  5. 1969 Ford Mustang Boss 429 Sportsroof Coupe sold for $401,500
  6. 1974 Ferrari Dino 246 GTS Spyder sold for $335,500
  7. 1984 Lamborghini Countach LP5000S Coupe sold for $325,000
  8. 1984 Mazda Lola T616 Race Car sold for $280,500
  9. 2006 Ford GT Coupe sold for $270,900
  10. 1983 Ferrari 512 BBi Coupe sold for $269,500

Russo and Steele’s next scheduled sale will be held at the Tropicana in Las Vegas, Nev., Sept. 26-27, 2014.

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