Any Experance with Russo And Steele Auction Company

[MT930]

These Guys have been hounding me to put my 930 I am trying to sell in the
MONTEREY 2016 Auction.

https://russoandsteele.com/monterey/

Wanted to see if any one had experience with them.

They are telling me that my expectations are good even with a stated reserve.

[asphaltgambler]

If your car is very nice & original, why bother with a brick & mortar auction? Both seller & buyer pay a % on the sale price + additional fees. In a high profile auction house those fees could range between 12% up to 20%. Further, as a seller you'll have add in transport, storage, clean / prep costs prior to ever crossing the block.

Have you considered selling online yourself?

[stomachmonkey]

Originally Posted by MT930

These Guys have been hounding me to put my 930 I am trying to sell in the
MONTEREY 2016 Auction.

https://russoandsteele.com/monterey/

Wanted to see if any one had experience with them.

They are telling me that my expectations are good even with a stated reserve.

Trying to sell?

For how long?

A fairly priced and documented car should sell quick in this market.

Mind posting some pics and asking price?

[Dantilla]

Are they as good as Barrett-Jackson at creating auction fever?

I don't know what B-J's fees are, but so many cars at their auctions go for more than typical fair market value.

Monterey is probably a good venue. Lots of guys bringing their checkbook.

[onewhippedpuppy]

Considering how hot the air cooled market is, I suspect you could sell it just about anywhere if well advertised.

[MT930]

Not real sure I want to sell it. I have had it on here ( Pelican) and the PCA Site. Still very much in love with the car. I am just not driving it much. I have not been very active in selling it. I 'm in the camp if I can get what I'm asking for it I will, if not I will keep it.

1987 930 Well Documented History and Original Parts

[onewhippedpuppy]

So just a general comment, please don't take it as me being a dick. You are selling a car that is white hot desirable right now, and you've had it for sale about one year. Your ad and photos are pretty good and you have it advertised in good places, so it's not for lack of trying. The car looks to be great, and while upgraded it has original parts to return it to stock. That only leaves one big variable - price. I'm not an expert on the air cooled market, but it seems high for an 1987 930 with almost 80k that is in great but not perfect condition. Last fall I sold a very special 1989 930 Cab with a little over 40k miles for $107k, just as a data point. It took less than a month.

[asphaltgambler]

Some very good points here - as the saying goes, if your phones ain't ringin, the market is speaking to you............in this case loudly for a car like that.

My guess would be that if you listed with one of the major auction houses you'd be even more disappointed with the hammer price. Not that auction houses are bad, but in this case the car is selling itself, especially in the current market climate for air-cooled cars.

As far as pricing, it may very well be too high. You should consult Hagerty's valuation tools for the most recent information on actual sale numbers.

[trader220]

I agree with the sentiment here. It appears to be a nice car and well presented. The cars that are doing the best money at auction are the bone stockers. My guess is the guys from R&S will want it with no reserve or with a very low reserve.

As far as the BJ auction goes... dont believe all the hammer prices you see there. There are so many shills for people who will gladly pay the fees. They also cut deals to get you to list no reserve and phony bid em up and report the sale even when its their phony bid and no sale.

I looked at a similar 87 930 a few months back with very slightly lower miles. It traded at $83k which I thought was a pretty good buy. I dont think you'll do a whole lot better net net by sending it to auction.

[LakeCleElum]

Here's a website that tracks sales prices at auctions.....Plug in your year and model - I have it set to track prices on my 190 SL:

Auction results and data for 1960 Mercedes-Benz 190 SL (190SL, Sehr Leicht, Sport Light, Ponton) - Conceptcarz

[trader220]

Bob, thats an interesting site. I plugged in a few different cars and the values it gave were kind of interesting.

The problem I have with it is there are so few data points for the cars I looked at. Some of data was made up of 2 or 3 points. Unfortunately I dont think thats representative of the market. None the less its a good place to collect some more data points.

[unclebilly]

They are also hounding me to list my 76 930 at the same auction.

I don't like that the auction is unreserved and the sellers premiums.

[MBAtarga]

The "original" ad here on Pelican still lists the ask as $105k - further down the reduced price from March of $90k shows.