April 12, 2024

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Geared for the Automotive Life

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RM Sotheby’s Achieves Over $50m at ModaMiami

It was a big weekend for RM Sotheby’s at its new ModaMiami event in Coral Gables, FL. In total, the auction brought in over $50m in sales, and over 8,000 people were in attendance at the all-new automotive lifestyle event.

“The RM Sotheby’s sale and the ModaMiami event have been in development for quite some time,“ said Rob Myers, CEO & Chairman of RM Sotheby’s.  “Recognizing the need for a shake-up in the automotive world, and fueled by the enormous success of the RM Sotheby’s Miami event in 2022, we focused our efforts on Coral Gables. For the auction, RM Sotheby’s brought cars that would stand out on any showfield. In the same vein, for ModaMiami, we selected the finest vehicles from the world’s top collectors. We found the perfect venue for this event when we partnered with The Biltmore Hotel in Coral Gables. Looking ahead, both RM Sotheby’s and ModaEvents are excited about the future, and there are no limits to what both companies can achieve.”

The auction presented everything from classics to muscle cars and modern supercars. The high sale was a 1953 Ferrari 250 Europa Coupe by Vignale at $4.3m, followed by a 1930 Duesenberg Model J “Disappearing Top” Convertible Coupe at $3.9m.

The Ferrari was one of 22 Europas built — each considered to be the first examples of Ferrari’s grand touring prowess. The car features styling by Giovanni Michelotti and a 3-liter V12, and this one received a complete 5-year restoration that concluded in 2015. It was certified by Ferrari Classiche, and here, it broke the record for the model by nearly $1m.

Image: Darin Schnabel ©2024 Courtesy of RM Sotheby’s

The Duesenberg is one of two remaining examples that feature dual rear-mounted spares. It was restored by Duesenberg specialist Randy Ema, Inc and is ACD Certified. Here it sold for $1m over its high estimate.

In addition, a 2010 Bugatti Veyron 16.4 Grand Sport “Sang Bleu” was offered here, presented with unique “unfinished” coachwork. It too sold for seven figures over its estimate, bringing $3.1m across the block.

Top 10 Lots Sold

  1. 1953 Ferrari 250 Europa Coupe by Vignale sold for $4,295,000 USD
  2. 1930 Duesenberg Model J ‘Disappearing Top’ Convertible Coupe by Murphy sold for $3,855,000 USD
  3. 1990 Ferrari F40 sold for $3,360,000 USD
  4. 2010 Bugatti Veyron 16.4 Grand Sport ‘Sang Bleu’ sold for $3,085,000 USD
  5. 1963 Mercedes-Benz 300 SL Roadster sold for $2,260,000 USD
  6. 1939 Mercedes-Benz 540 K Special Cabriolet A by Sindelfingen sold for $2,205,000 USD
  7. 1966 Porsche 906 Carrera 6 sold for $2,205,000 USD
  8. 2005 Porsche Carrera GT sold for $1,721,000 USD
  9. 1998 RUF Turbo R sold for $1,517,500 USD
  10. 2017 Ferrari F12tdf sold for $1,242,500 USD

See the complete results here.

ModaMiami made a grand debut at The Biltmore Hotel in Coral Gables, Florida, as well. The event attracted thousands from around the globe and showcased over 250 of the world’s rarest automobiles, including eight Pebble Beach Concours d’Elegance Best of Show winners and the legendary 1954/55 Mercedes-Benz “Silver Arrow” raced by Juan Manuel Fangio. 

The Mercedes-Benz W 196 R, raced in 1955 by Juan Manuel Fangio, was brought out from its long-term residence at the Mercedes-Benz Museum in Germany to take part in this first-time event. 

Festivities included the Moda Drive at The Concours Club racetrack, Magic Hour at Moda, and the Concours de Nuit evening celebration. Special attractions such as the 100 Club showcased rare supercars and hypercars, while the ModaMiami Cruise offered a scenic drive through Coral Gables and Coconut Grove. 

Unlike traditional concours events where cars are judged, ModaMiami celebrated the ‘best of collection’ as voted on by peers, featuring awards for exceptional models such as the 1932 Duesenberg Model J and the 1935 Duesenberg Model SJ “Mormon Meteor.” This approach, along with the diverse offerings, made this a unique experience for automotive enthusiasts and luxury lifestyle aficionados.

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