Russo and Steele announced they are forming a partnership to explore establishing their name and automobile auctions in China. Chase the money bunny overseas to the most explosive market, since America came online with the industrial revolution, sounds like smart business to me. There are of course all the logistics of getting cars over there while navigating cultural and political barriers. Leading to… what partner in China can Russo and Steele trust? I’d hate to find out my rare exclusive car got tied up in the ports and missed the auction or even worse because someone wasn’t getting their “fair” cut.
The appetite for European and American cars in China will certainly grow since the car market is global. The style in which they perform the auction is up for discovery. Drew Alcazar told AutoWeek he’s not sure if “mosh-pit, America-style auction” will suit international tastes. So instead they are considering the sale itself to be more of a salon, an exposition or even a road rally. It will be interesting to watch how this will affect market prices. My prediction is an increase in values. Not rocket science here. More demand… and they ain’t making any more of these cars.