RM Sotheby's Achieves Over $50 Million in Sales at ModaMiami's Inaugural Event, the New Must-Attend Gathering for Automotive and Lifestyle Aficionados
RM Sotheby's Achieves Over $50 Million in Sales at ModaMiami's Inaugural Event, the New Must-Attend Gathering for Automotive and Lifestyle Aficionados
by RM Sothebys | March 6, 2024
RM Sotheby's Captivates the Global Automotive Community at ModaMiami's Inaugural Event by Securing Over $50 Million in Sales, with Standout Auctions of a 1953 Ferrari 250 Europa Coupe and a 1930 Duesenberg Model J 'Disappearing Top' Convertible Coupe
• Sale highlights include: 1953 Ferrari 250 Europa Coupe by Vignale ($4.295M), 1930 Duesenberg Model J 'Disappearing Top' Convertible Coupe by Murphy ($3.855M), 2010 Bugatti Veyron Grand Sport 'Sang Bleu' ($3.085M), 1929 De Havilland DH60GM Gipsy Moth 'Out of Africa' ($527.5K).
• The auction achieved a sell-through rate of 84%.
• Over 8,000 people enjoyed the inaugural ModaMiami event.
• For more information about ModaMiami, please visit the website here: https://www.modamiami.com/. To view all RM Sotheby's auction results, please click here.
RM Sotheby's, returning to Miami after a highly successful sale in 2022, delivered yet another outstanding result with more than $50 million in sales during an auction at ModaMiami, Miami's latest and among the most eagerly awaited global luxury automotive events in the world. The sale occurred at the historic Biltmore Hotel in Coral Gables, Florida, on 1-2 March 2024.
'The RM Sotheby's sale and the ModaMiami event have been in development for quite some time. 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' said Rob Myers, CEO & Chairman of RM Sotheby's. '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.'
For the Miami sale, RM Sotheby's curated a collection worthy of an automotive history museum, featuring a broad array of offerings from Duesenbergs, muscle cars, to some of the world's most amazing supercars, like the Ferrari F40. Additionally, a classic boat and airplane were also on offer, making this one of the most memorable auctions to date. Highlights are listed below:
The 1953 Ferrari 250 Europa Coupe by Vignale, celebrated as the first luxury grand touring Ferrari and powered by a 3-liter Colombo V-12 engine, is one of just 22 Europas. It features an iconic design by Giovanni Michelotti and, after meticulous restoration between 2010 and 2015 and certification by Ferrari Classiche, it sold for $4.295 million, shattering the previous world record for the model by $995,000.
The 1930 Duesenberg Model J 'Disappearing Top' Convertible Coupe by Murphy stands as one of the most coveted Duesenberg body styles, with only two remaining examples featuring original rear-mounted spares. Restored by Randy Ema, Inc. and certified by the Auburn Cord Duesenberg Club, this car sold for $3.855 million, marking it as a prime example of automotive elegance.
Crafted as a one-off show car for Bugatti's 100th anniversary, the 2010 Bugatti Veyron 16.4 Grand Sport 'Sang Bleu' features unique 'unfinished' coachwork. With just two private owners and a major service completed in 2023, this rare vehicle sold for $3.085 million, $1 million over its pre-auction estimate.
The 1929 De Havilland DH60GM Gipsy Moth 'Out of Africa' carries a rich legacy from its prominent feature in the Academy Award-winning movie. Dedicated to supporting the creation of a new rhinoceros sanctuary in Central Kenya, this meticulously restored aircraft sold for more than double its pre-auction estimate at $527,500, showcasing its blend of Hollywood glamor and aviation history.
Records
• 1966 Porsche 906 Carrera 6
Sold in Miami for: $2,205,000
Previous Record: $2,040,000
• 2010 Bugatti Veyron 16.4 Grand Sport 'Sang Bleu'
Sold in Miami for: $3,085,000
Previous Record: $2,640,000
• 1953 Ferrari 250 Europa Coupe by Vignale
Sold in Miami for: $4,295,000
Previous Record: $3,300,000
Out of the 12 lots exceeding their high estimates, nine were cars, among which the 2010 Bugatti Veyron 16.4 Grand Sport 'Sang Bleu' stood out, selling for $1,085,000 above its pre-auction estimate. Additionally, noteworthy sales included the 1948 Chris-Craft Deluxe Runabout 17' Boat Bar, which fetched 3.2 times its high estimate, amounting to $165,000 over the predicted value, and the 1929 De Havilland DH60GM Gipsy Moth 'Out of Africa,' which sold for $307,500 more than its anticipated selling price.
Top 10 Lots Sold
1953 Ferrari 250 Europa Coupe by Vignale sold for $4,295,000 USD
1930 Duesenberg Model J 'Disappearing Top' Convertible Coupe by Murphy sold for $3,855,000 USD
1990 Ferrari F40 sold for $3,360,000 USD
2010 Bugatti Veyron 16.4 Grand Sport 'Sang Bleu' sold for $3,085,000 USD
1963 Mercedes-Benz 300 SL Roadster sold for $2,260,000 USD
1939 Mercedes-Benz 540 K Special Cabriolet A by Sindelfingen sold for $2,205,000 USD
1966 Porsche 906 Carrera 6 sold for $2,205,000 USD
2005 Porsche Carrera GT sold for $1,721,000 USD
1998 RUF Turbo R sold for $1,517,500 USD
2017 Ferrari F12tdf sold for $1,242,500 USD
About ModaMiami:
With over 8,000 attendees, ModaMiami made a grand debut at The Biltmore Hotel in Coral Gables, Florida, this past weekend, establishing itself as a premier luxury lifestyle and automotive event on the East Coast. Attracting thousands from around the globe, the event 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 Silver Arrow was undoubtedly the highlight of the ModaMiami event, leaving an indelible mark on all who attended. This spectacular Mercedes-Benz W 196 R, which had previously set the racing world ablaze in 1955 under the expert control of Juan Manuel Fangio, traveled all the way from its long-term residence at the Mercedes-Benz Museum in Germany to grace the inaugural ModaMiami, highlighting the special relationship between RM Sotheby's and Mercedes.
The event was packed with activities, from an exclusive dining experience by celebrity chef Mario Carbone to RM Sotheby's auctions selling over $50 million in classic and hypercars, highlighting the event's success and the community's enthusiasm for this inaugural gathering.
The festivities included unique experiences including the Moda Drive at The Concours Club racetrack, Magic Hour at Moda, and the Concours de Nuit evening celebration. Special attractions like the 100 Club showcased the rarest 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 like the 1932 Duesenberg Model J and the 1935 Duesenberg Model SJ 'Mormon Meteor.' This approach, along with the diverse offerings, cemented ModaMiami's place as a must-attend event for automotive enthusiasts and luxury lifestyle aficionados.
Photo credit: RM Sothebys posted on conceptcarz.com
