The Multi-Million-Dollar Squabble Behind ModaMiami
What started out as something of a tiff between auction giants RM Sotheby's and Hagerty's Broad Arrow seems to have worked itself out into a splendid couple of weeks in South Florida.1958 Ferrari 250 Testa Rossa Harry Yeaggy, Cincinnati, Ohio
As the season comes into full swing in sunny south Florida, the car collecting cognoscenti now have two events in a row to attend: last week's ModaMiami held in Coral Gables at the fabulous and historic Biltmore Hotel, and The Amelia, now scheduled for this Saturday only (because of a thunderstorm scheduled for Sunday) at the Ritz Carlton in Amelia Island just up the coast.Last year, Moda's first, there was a bit of a scheduling snafu—which might have been intentional, might not have been, no one's saying—that saw both events on the same weekend. See, when Hagerty took over the Amelia in 2021, it hadn't yet acquired Broad Arrow Auctions. It did that the following year, and it held its first Broad Arrow Auction at the Amelia last year. RM had been hosting an auction at Amelia since 1999.Coincidentally, RM Sotheby's held its first ModaMiami 'lifestyle event,' that happened to include an RM Sotheby's auction, the same weekend last year. Scandal!This year the two events were separated by a week, creating a lovely Florida destination week or two for a lot of car enthusiasts.Last weekend was the second running of ModaMiami and, as we said, the 2025 Broad Arrow auction is going to be held Saturday, March 8.Got it? Too much Inside Baseball?
Anyway, the ModaMiami event was a blast, by all accounts, including the official account from organizers, whom you'd expect to say that.Gord Duff, president of RM Sotheby's, described this year's ModaMiami as 'an event that's redefining what a concours can be.''After our successful debut (last year, which had eight Pebble Beach Best of Show winners in attendance), we're glad to return with an exceptional showcase that blends the best of automotive history with a modern, forward-thinking vibe.'This year's Moda featured 275 cars in the two-day concours held Saturday and Sunday under sunny skies, as well as a driving tour of Coral Gables and the best parts of South Florida on Friday. There was even a Moda After Dark party hosted by Rolls-Royce Saturday evening.On the lawn were featured marques like: 50 Years of the Countach, 20 Years of the Veyron, six Mille Miglia cars, and classes for hypercars, Cadillacs, and Stuttgart Legends.And the auction? RM Sotheby's sold almost $75 million worth of cars over the course of ModaMiami, including a 1966 Ford GT40 Mk II that hammered for $13.2 million, a 1908 Mercedes 150 HP Rennwagen that sold for $8.25 million, and a 1957 Chevrolet Corvette SS XP-64 that went for $7.7 million. A million here a million there and soon you're talking about real money.Now everything goes up the coast for tomorrow's Amelia Island concours and auction. Hope to have photos of that for you, too.
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