Russo and Steele Sells More at Collector Car Auction, Sees Market Weakness
Filed in archive Auctions by Philip Powell on January 30, 2007

The final figures from the great auction week are in. Altogether some $164 million changed hands; money which, if one were to be moralistic about it, might have been better spent on more important things. But the urge to collect is part of the human Psyche
and those with the cash will always be happy to pay for a rare and desirable automobile. Notwithstanding that as Keith Martin said (see previous blog), some may be paying too much. The folks at Russo and Steele were ecstatic to have topped the $20 million mark with a sale of 280 cars from 431 offered. Top dollar went to a 1965 Shelby Daytona Super Coupe, the only Cobra coupe built with a 427 V-8 engine. $1.32 million was paid for this one-of-a-kind sports car. Company owner Drew Alcazar said that while well-documented cars were still strong, customized cars and non-original creations were starting to show weakness.
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