Ferrari Mailing List: FW: Breaking News: Latest News From Russo and Steele and Silver Auctions

[Tom Reynolds (kjtar]

Dear Ferrari Mailing List,
 
Tom Reynolds has forwarded this email to you with the following message:
Terrible weather in Arizona lately, here's SCM's take on
some of what's happening.

All the best,
Tom Reynolds
Tulsa, OK

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SCM's Senior Auction Analyst, B. Mitchell Carlson, made his way out to the Russo
 and Steele auction site early this morning. He reports that only consignors are
 being admitted, and that Drew Alcazar and the Russo staff are meeting with them
 to determine whether they wish to continue with the sale. No auction will take 
place today (Saturday), says Carlson, but Russo has every intention of starting 
up again Sunday and, depending upon the number of cars remaining, they may add a
 Monday date as well.
Collector car insurers have been onsite since the storm hit, working with owners
 to assess damages. In this video, 
[http://rs6.net/tn.jsp?t=xtiizgdab.0.7n7hzgdab.j6ohxtbab.0&ts=S0450&p=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3D5akIrvUr5Vk]
Jim Fiske of Chubb Collector Car Insurance explains how his company is handling 
the situation.
Crews work to get Silver back online for a 4 pm start on Friday
Yesterday, Carlson headed out to the Silver auction in Ft. McDowell, where he 
reports
that their auction tents were also severely damaged by winds. Of about a dozen 
tents,
all but two were blown down, including the main auction tent. Prior to the 
storms,
however, the collector cars they housed had been moved to the nearby open 
parking
lot, so just one car sustained damage, which Carlson reports as a scratch.
Mitch Silver and his team spent most of yesterday rebuilding the site, had the 
main auction tent erected by 3 pm, and were auctioning cars by 4 pm. Carlson 
states that about 100 cars crossed the block before the 9 pm close, with about 
50% sell-through.

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