(August 26, 2012) The Russo and Steele Monterey Auction 2012 was held Aug. 16-18 by Fisherman’s Wharf on the waterfront in downtown Monterey, California, resulting in preliminary total sales exceeding $10 million.

The 12th annual Russo and Steele Monterey Auction Aug. 16-18 saw more than 250 cars cross the auction block in Russo’s interactive and entertaining fashion with the top car a 1965 Shelby Cobra 289 CSX2538 that sold for $781,000. Total sales exceeded $10 million.

The Cobra was followed by the 1972 Ferrari 365 GTB/4 Daytona that made $379,500 and the 1972 Ferrari Dino 246 GT that brought $363,000.

Other notable sales included the 1956 Alfa Romeo Sprint Veloce Coupe “Ultra Light” that sold for a world-record $302,500, the 1966 Shelby GT350 at $236,500, the 1959 Devin SS Roadster for $165,000 and Enzo Ferrari’s Prancing Horse sculpture that captured $86,250.

Russo and Steele CEO Drew Alcazar commented, “Looking out to an overflowing auction block was nothing but vindication that the critical step of creating a new venue in Monterey was not only essential, but has now launched Russo and Steele in a dramatic step forward. We are pleased that Russo and Steele and the city of Monterey have secured a long term partnership agreement that has enabled Russo and Steele to lay this foundation for a very exciting future here in Monterey, California.”

Russo and Steele Monterey 2012 — Top Ten Auction Results

1. 1965 Shelby Cobra 289 Roadster – $781,000
2. 1972 Ferrari 365 GTB/4 Daytona Coupe – $379,500
3. 1972 Ferrari Dino 246 GTS Targa – $363,000
4. 1956 Alfa Romeo Sprint Veloce Ultra Light Coupe – $302,500
5. 1974 Ferrari Dino 246 GTS – $247,500
6. 2006 Mercedes-Benz SLR McLaren Roadster – $237,600
7. 1966 Shelby GT350 – $236,500
8. 1953 Chevrolet Corvette Roadster – $170,500
9. 1959 Devin SS Roadster – $165,000
10. 2009 Bentley Arnage T Sedan – $145,200

Source: Sports Car Digest