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Video: Preview Russo and Steele's auction at Monterey

Monterey weekend is more than just cars on golf courses during the Pebble Beach Concours d'Elegance--there is plenty of auction action, too. Here's a video preview of Russo and Steele's auction with Autoweek digital editor Andrew Stoy and Hagerty's Rob Sass. The Monterey Week is packed with car shows, vintage racing and car auctions.

Lack of history loses 20% of a car’s value

A CAR being sold without a full service history is worth one-fifth less on average than a car with a fully stamped service book. This amounts to an average of £1464 for the typical used car sold in the UK with a price of £7706. A study by Kwik Fit found buyers expect a 19% discount for cars with incomplete or no service history, which is costing the used car industry £10 billion per year in lost revenue.

New Toyota FT-1 and FT-1 Vision Gran Turismo Concept revealed

The new Toyota FT-1 Concept (pictured) will debut at Pebble Beach At the Detroit Motor Show in January, the impressive Toyota FT-1 Concept was revealed, with the general concensus being that it pointed firmly at a future Toyota Supra. And that thought is reinforced with the arrival of a new FT-1 Concept, ahead of a debut at Pebble Beach – and a ‘virtual’ FT-1 Concept in the guise of the Toyota FT-1 Vision Gran Turismo Concept. The new FT-1 Concept comes complete with a new graphite paint job, but perhaps the more interesting aspect is that the interior now looks more upmarket and more appealing.