1973 LAMBORGHINI MIURA P400 SV AND 1954 MERCEDES BENZ 300 SL BREAK RECORDS AT THE RUSSO AND STEELE SPORTS AND MUSCLE IN MONTEREY EVENT

MONTEREY, California (August 21, 2007) – Russo and Steele Collector Automobile Auctions continues to break records with the sale of two European Sports Cars in their Monterey, California auction August 17th-18th, 2007.

1973 LAMBORGHINI MIURA P400 SV, chassis number #5096, is the ninth-from-last Miura built, but spent only three of its 28-year life on the road - the rest of the time it has been in various warehouses and garages. It was the very last production number and was supplied to Lamborghini Great Britain. It sold for a record breaking $962,500! 1954 MERCEDES BENZ 300 SL’S manufacturer Zertifikat, states this car was built as vehicle identification number 198 040 45 00 103 having engine number 198 980 45 00 088 and body number A 198 040 45 00 101. With its original tool kit intact and all receipts for the restoration provided, as well as, the knowledge and guarantee of the mechanical work preformed represented at the sale this collector automobile sold for another record breaking sale of $764,500.

The annual Sports and Muscle in Monterey Auction held August 17th -18th, 2007 at the downtown Marriott was a smashing success with over 150 cars running over the auction block for a combined total of over $10 million in sales and a 62% sales rate. This year Russo and Steele had a significant platform change since they went from ALL no reserve format to the acceptance of consignments WITH reserve.

Drew Alcazar, owner of Russo and Steele, talked about the decisions behind this change in format: “The market has spoken clearly that the all no reserve sale has now compromised the integrity of the auction forum and no longer has value. Russo and Steele continues to exceed the standard by offering our clients the option of reserve. This added feature resulted in higher quality consignments and builds infinitely more equity in our relationships. We are thrilled with the results being a true indicator of the market place; free and unencumbered by previously perpetuated stigmas.”

For full sale results on Russo and Steele’s Monterey event, please visit www.russoandsteele.com

Russo and Steele Collector Automobiles is one of the nation’s premier collector car auctions, specializing in European sports cars, American muscle cars, hot rods and customs. Two auctions are staged each year with the signature auction taking place in Scottsdale, Arizona every January, followed by Monterey, California in August. Additional information is available at www.russoandsteele.com.


For more information, contact:
Stephanie Quinn
Phone: (602) 252-2697
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