Russo and Steele
Collector Automobile Auctions
Kicking Off its 15th Anniversary at Scottsdale in January 14th – 18th
Information Courtesy of: Darin Roberge, Marketing Director Russo and Steele, LLC
By David C. Neyens
During 2015, Russo and Steele Collector Automobile Auctions will kick-off its landmark 15th anniversary in the highly competitive classic-car auction business beginning with its home event in January. Founded in Scottsdale in 2001 by Drew Alcazar and his wife Josephine, the company was created to provide a highly targeted alternative to the status quo in the classic-car auction marketplace. As Russo and Steele CEO Drew Alcazar recalls, he had formulated a very clear vision of the events he wanted to deliver to the public – unique, highly personal and visceral experiences held in an intimate environment focused on the specific needs of buyers and sellers of high-quality collector automobiles.
An integral part of the unique Russo and Steele experience is the company’s name. When the company was established, Drew and Josephine decided to make a clean break from tradition. Choosing not to name the company after themselves, they helped to create a culture empowering their staff. The company name they chose, Russo and Steele, was a perfect fit for the couple’s vision and a fun derivation of the cars they love, with “Russo” conjuring the iconic red livery of vintage Ferraris and “Steele” representing the “Detroit Iron” of America’s timeless classics and legendary muscle cars.
Specializing in today’s most desirable European sports cars and exotics, American muscle cars, hot rods, and customs, Russo and Steele has carefully built its growing presence with each event it holds. Based on decades of experience in collector-car restoration and auctions and reflecting a true passion for quality cars, Drew’s laser-focused vision demanded an equally unique environment and auction experience he wanted Russo and Steele to deliver. To accomplish that, he developed an auction block without equal before or since – the “Auction in the Round.” Placing the buyers right on the auction floor with the cars on offer, there are no cars on stages and none are separated from the buyers. The ground level auction ‘arena’ and elevated platform seating wraps a full 360 degrees around the auction stage, creating a thrilling virtual ‘boxing ring’ or ‘coliseum’ effect that inevitably funnels buyers into the epicenter of the action.
The “Auction in the Round” maintains a high-energy and intimate environment that creates a very interactive auction block known to generate excitement with a sense of urgency and personal emotion – After all, that is what live auction events are all about. As Drew Alcazar describes, “We want to get people next to these cars and experience them. It’s a lot more fun than just sitting in the audience with the stage a million miles away.”
Company growth clearly reflects the thought and care invested into the Russo and Steele experience, with the cornerstone Scottsdale and Monterey auctions being supplemented by an ever expanding calendar of auction events, across the Southwest, the West Coast, and beyond. Held at top destination-type locations, new events are added to the Russo and Steele roster only after careful consideration. “Both Scottsdale and Monterey have matured to what we feel exemplifies the Russo and Steele experience. Adding new auction events to our mix is a natural progression in our evolution” remarks Alcazar.
Recent additions include Newport Beach, California. With its casually sophisticated atmosphere, Southern California and especially Newport Beach, California epitomizes the classic car lifestyle with its staggering range of vehicle types and a strong community of collectors. Newport Beach also ranks firmly among the “Top 10 Resort Towns in the U.S.” and it enjoys further recognition as one of the country’s “Top 10 Best Family Beaches,” making the Newport auction a great opportunity for enthusiasts of all ages to enjoy themselves.
Another major part of the Russo and Steele formula is the broad appeal of its events, with the company seamlessly handling the full spectrum of collector cars, sellers, and buyers. Ranging from such popular entry-level sports cars as England’s iconic MGB sports roadster to full-on hot rods and “lead sleds,” Russo and Steele’s offerings extend to rare investment-grade American muscle cars, seven-figure classic Ferrari models, the iconic Mercedes-Benz 300SL, and modern-day supercars including the mind-numbing 16-cylinder, quad-turbo Bugatti Veyron, which drew a winning bid around $1 million. The company’s million-dollar sale at Monterey in 2013 of 037 S, a 1949 Ferrari 166 Inter Berlinetta from the Italian marquees first road-car series, is but one of many examples of Russo and Steele’s range of capabilities.
The Monterey 2014 auction featured the strongest starting line-up of automobiles offered for sale in Russo and Steele history. Sale results achieved by Russo and Steele at the fiercely competitive Monterey car week were particularly strong, with over $12 million in total sales and an average sale price exceeding $115,000 per vehicle. Further analysis shows a 63 per cent over 2013 results and a boost of 45 per cent in average sale prices achieved per vehicle.
Unlike many of their competitors, Drew and the Russo and Steele team are particularly knowledgeable and effective in the marketing and sale of significant racing cars at auction, the natural result of committed vintage-racing involvement. Recent headline consignments have included important examples of Carroll Shelby’s thundering Cobra, Top Fuel dragsters and Funny Cars, and numerous SCCA Trans-Am warriors, plus Indianapolis 500 cars and Formula cars. The August 2014 auction even included the $400,000-plus sale of the two Mazda powered Lolas raced by the Jim Busby/BF Goodrich team, which dominated international endurance racing in 1984. One of them took a class victory at the 24 Hours of Le Mans in 1984.
In addition to the excitement generated on the auction block, Russo and Steele events are also renowned for their gala receptions supporting wonderful charities, plus expert panel discussions featuring noted authorities, personalities, and speakers in the classic-car hobby and marketplace. Notable recent offerings and sales in support of worthy charities include the offering of a special “one-of” SRT Viper on behalf of the Sons of Italy Foundation at 2014’s Scottsdale event.
While there have been so many firsts marking the company’s 15 years in business, the upcoming 15th Anniversary auctions and events for 2015 are anticipated to quickly create more. Beginning with the five-day Scottsdale auction running January 14th to the 18th, an amazing selection of over 800 collector cars will be offered for sale. Early headline consignments include some of the most rare and valuable American muscle cars ever built, including a factory-built 1970 Plymouth Hemi Superbird, a documented Grabber Green 1970 Ford Mustang Boss 302, the “1 of 1” F6 Metallic Green 1969 Dodge Hemi Charger, a 1970 Ford Mustang Boss 429, and many more “blue chip” examples.
For those seeking even greater exclusivity, the stunning Sport Speciale roadster features sweeping bodywork reminiscent of the iconic Ferrari Tesa Rossa sports racers of the late 1950s and marks a thrilling find. Powered by a Dinan-built, fuel-injected BMW V-12 engine and featuring a 6-speed gearbox, it is capable of incredible performance while delivering an authentically classic look and feel. A top-quality parofessional build and the only car of its kind, it was completed to order for a Scottsdale collector with no expense spared and thousands of hours of labor invested. Outstanding competition cars will include a 1959 Echidna SCCA C-Modified sports racer, an extremely rare Chevrolet-powered, Devin-bodied racer built by three inventive Minnesotans who took on the finest competitors including Ferrari and Maserati – along with their big-name drivers – and won during the “Golden Age” of American sports-car racing.
With the multitude of automotive eras and types available, Russo and Steele’s 15th Anniversary Scottsdale auction is anticipated to continue the company’s tradition of redefining the art and practice of collector automobile auctions. Bidder registration is just $200 and includes an official pocket guide and admission for all 5 days for the bidder and one lucky guest. Registered bidders are also invited to attend an exclusive auction previews. Be sure to mark your calendar and experience it for yourself!
