Collector Automobile Auction Company Announces Market Leading Scottsdale 2016 Results

SCOTTSDALE, Ariz., Feb. 5, 2016 (GLOBE NEWSWIRE) -- Following a spirited and high energy week as a major central component of Scottsdale, Arizona's world renowned classic car week events, Russo and Steele Collector Automobile Auctions earlier today announced incredible sales results with early totals reaching $20.7 Million on 723 lots offered with 520 hammering sold. This represents an impressive sell through rate of 72% helping the auction company's Scottsdale numbers grow double digit percentages over 2015's results with a 7 figure overall improvement in sales. This makes Russo and Steele the only major auction house involved with 2016's Arizona Car Week to garner positive growth and it further proves that the genuine epicentre of the collector car universe in Scottsdale in January continues to be Russo and Steele Collector Automobile Auctions. The company also reported record shattering increases in attendance during this year's auction event, continuing to broaden their passionate and loyal fan base.

Some of Russo and Steele's most notable Scottsdale sales include:

2003 Saleen S7 Coupe – $387,750.00
1973 Ferrari Dino 246 GTS Spyder – $374,000.00
2005 Ford GT – $341,000.00
1963 Ferrari 250 GTE 2+2 – $324,500.00
1970 Oldsmobile 442 W-30 Convertible – $308,000.00
1990 Lamborghini Countach – $275,000.00
1968 Dodge Hemi Charger – $242,000.00
1965 Ferrari 330 GT 2+2 "Shark Nose" – $225,500.00
1966 Shelby GT350 Fastback – $192,500.00
1988 Ferrari Testarossa – $181,500.00

"It is very clear that the impressive increases we demonstrated in Scottsdale this year show the vigor and vitality of our segment within the current collector car marketplace and that true enthusiasts have adopted Russo and Steele as their resounding market leader", comments Russo and Steele CEO Drew Alcazar. "This year, we didn't rely on a multitude of multi-million dollar and/or high profile celebrity type cars with stories attached, yet we still produced positive numbers universally across the board, which is something only Russo and Steele achieved during this year's events. It demonstrates that our clients greatly appreciate the customer service focused philosophy of cars and camaraderie. In addition, they are becoming more astute, more educated and more sophisticated, appreciating our unique auction experience", Alcazar continues. "It clearly shows that they are tired of being treated like animals in a circus. It's not about hotdogs on a stick and Ferris wheels; it's about maximizing market value and offering the highest quality collector automobiles with the most integrity available anywhere. We are genuine automotive enthusiasts and we treat our clients like family. These results unquestionably point to that mentality to not only being an honest one, but also a successful one as well."

Next, Russo and Steele sets its sight on its return to California for its 4th annual Newport Beach auction June 10-12 and 16th annual Monterey Auction August 18-20. 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 more information about any 2016 Russo and Steele auction event, please contact darin@russoandsteele.com

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=38816

CONTACT: Darin Roberge 
                           602.252.2697
                           darin@russoandsteele.com