Auto Auctions

[STL Mark]

If you watched B/J auction you may have missed the news that the Russo & Steele Auction also in Scottsdale this week suffered severe storm damage. Their site was evacuated for 2 days during the storm. Several of their large tents came down, and all of the high dollar cars were exposed to the weather.

Here's a link to the storm damage - Very Sad.
https://sites.google.com/a/allclassicsllc.com/www/home/2010-russo-and-steele-damages

In other auction news - Shelby was in attendance. He debuted his 2011 Mustang GT350. Kinda neat. 500hp, white w/blue stripes, MSRP at 63K. He also stated he is building a new car for himself - a fiberglass 289 Cobra with an auto trans, and 600hp. The 2 highest cars of the sale were a 63 Cobra Black with red interior for 375K and a white w/blue stripes 289 for 435K. A far cry from years past when these cars sold for 500 to 600K.

 

[mike w]

WOW WISH I HADN'T LOOKED - that brought tears to my eyes - many protected all there lives and this happens - so sad

 

[Matthew 10:16]

Ouch $$$$$$$$$$$$$

 

[rednour1]

The last FFR that sold today (FIVE-N-JOHN) from ffcobra.com site,had my old valvecovers on it. (Refinished of course!) Sold for 50K

 

[Tim M]

Another small block car selling for over $40k :shock: I'm perplexed by that. Really, nothing against small blocks, but just figured more would be interested in something period correct. That link was painful to look at. I wonder if their insurance (the auction company) covers that or if the owners sign a waiver?

 

[STL Mark]

There seems to be a bit of a debate re: insurance. Typically the consignor signs the car over to the auction company - now it's the auction company's insurance problem. Another problem is that if say Haggerty or some similar company has the insurance on all or most of these cars and suffers a loss on this magnitude will they be able to pay claims and fix the cars to a custom standard. Also, will the value of "original" cars be effected. Also, how will they cover clones like an Eleanor Mustang - usually a 160K vehicle - not just a 67 Stang. I would also imagine that some of those cars may be declared a total loss. So how would they value that? What a freakin mess.