HomeThe MarketSupercars star at Russo and Steele in Newport Beach

Supercars star at Russo and Steele in Newport Beach


The Porsche Carrera GT on the block at the Newport Beach auction | Russo and Steele
The Porsche Carrera GT on the block at the Newport Beach auction | Russo and Steele

Three modern supercars from three different continents led the bidding at Russo and Steele’s third annual Newport Beach auction, which reported a 71 percent jump in total sales compared with year-ago figures.

In preliminary results, the auction reported sales of $7.2 million, which is $3 million more than the total for the 2014 event.

The top-selling car was a 2005 Porsche Carrera GT, a V10-powered mid-engine exotic that sold for $840,000 (all sales include auction fees). That was followed by a 2006 Ford GT with just 200 miles on its odometer that went for $337,700.

The third-highest sale was for Lexus’s entry into the world of supercars, the acclaimed LFA. One of the final cars produced out of 500, the 2012 Lexus with its 552-horsepower V10 engine sold for $335,000.

Some post-sale results are still being processed, according to the Scottsdale-based auction house, which credits the “incredible quality of cars” for the increase in total sales numbers. The sell-through rate was about 50 percent.

The top 10 sales for the Newport Beach auction are:

1.  2005 Porsche Carrera GT – $840,000
2.  2006 Ford GT – $337,700
3. 2012 Lexus LFA – $335,000
4. 1971 Maserati Ghibli – $226,600
5. 1957 Porsche 356 T1 Cabriolet – $181,500
6. 1954 Chevrolet Corvette Custom – $159,500
7. 1966 Shelby GT350H – $137,500
8. 1958 Fiat 750 Abarth – $136,640
9. 1962 Chevrolet Corvette – $130,000
10. 1964 Volkswagen Type II Dual Cab Transporter – $89,100

(Sales results include auction fees)

Bob Golfen
Bob Golfen
Bob Golfen is a longtime automotive writer and editor, focusing on new vehicles, collector cars, car culture and the automotive lifestyle. He is the former automotive writer and editor for The Arizona Republic and SPEED.com, the website for the SPEED motorsports channel. He has written free-lance articles for a number of publications, including Autoweek, The New York Times and Barrett-Jackson auction catalogs. A collector car enthusiast with a wide range of knowledge about the old cars that we all love and desire, Bob enjoys tinkering with archaic machinery. His current obsession is a 1962 Porsche 356 Super coupe.

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