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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a day ago
- Yahoo
‘It has been murder': Crypto fight reveals limits of dealmaking under Trump
After weeks of turmoil, a bipartisan bill that would create rules for digital assets known as stablecoins is at last on track to pass the Senate. It was supposed to be one of the GOP's easiest aisle-crossing wins this Congress. Instead, bitter fallout has transformed it into the most vivid example yet of how hard it is to strike a deal in President Donald Trump's Washington. It's a textbook case pointing to more challenges ahead. 'It has been murder to get them there,' the normally even-keeled Sen. Bill Hagerty, R-Tenn., said at a conference last week of the 18 Senate Democrats who eventually sided with Republicans. 'The first time we brought this to the floor, [Massachusetts Sen.] Elizabeth Warren was able to get every one of them to vote against me.' Trump's legislative agenda began with a jolt when Democratic lawmakers unexpectedly broke ranks to support the GOP-led Laken Riley Act, which required tougher punishments for undocumented immigrants arrested for certain crimes. But now, Congress is bogging down amid Trump-fueled collisions. The escalating standoff poses a threat to other issues than cryptocurrency — from trade and appropriations to banning congressional stock trading and expanding access to privately traded investments. Republicans first took up legislation governing stablecoins, which are pegged to other assets like the dollar, because they saw it as the lightest lift of the crypto bills the president wants on his desk by August. But their bipartisan plan to legitimize one of the least risky corners of a deep-pocketed industry became, well, all about Trump. The Trumps' plans to strike a stablecoin deal with an Emirati firm and host a fundraiser dinner for memecoin buyers sparked progressive rage that contributed to the implosion of bipartisan talks last month. Republicans frustrated over the hold-up pushed ahead with a doomed procedural vote. Hagerty and the bill's supporters then landed a series of compromises to secure enough support to advance the bill — and the Senate is expected to pass it this month. But votes on a to-be-determined series of amendments will inevitably reopen all the same faultlines. It's a key indicator of just how difficult working across the aisle is during Trump's presidency — even on an issue that has millions of dollars at its back. Crypto executives who spent big last Congress to strong-arm lawmakers into supporting industry-friendly legislation acknowledge those efforts are now less potent. 'Trump isn't making it easy,' said one crypto lobbyist, who was granted anonymity to speak candidly. 'It's just really annoying, all the stuff that his family is doing.' As the president tests the bounds of executive power, progressive Democrats like Warren are pushing back on advancing anything that doesn't rein Trump in. Republicans like Hagerty ascribe that to partisan bitterness — leaving them reluctant to offer concessions that could even appear to challenge the president. For instance, it's easy to see Trump's recent comments over relinquishing the government's stake in mortgage giants Fannie Mae and Freddie Mac — and the ensuing Democratic outcry — complicating the bipartisan talks over making housing more affordable. The Senate led the way on a round of bipartisan deals during Joe Biden's first two years as president. This Trumpy Congress looks a lot less likely to do so. House progressives came within inches of striking a deal with Republicans on stablecoins last Congress — and 71 Democrats, including former Speaker Nancy Pelosi, eventually helped pass an overhaul on the House floor. Tensions are far higher this year. 'The challenge that both parties are having is that this issue has become much more than about the fairly straightforward approach to stablecoins,' said Kara Calvert, who helms US policy for crypto exchange Coinbase. House Financial Services Committee ranking member Rep. Maxine Waters, D-Calif., stormed out of a recent joint hearing on crypto legislation earlier in protest of the Trumps' dealmaking. That left Democrats to decide whether to follow — or stay to discuss a compromise. 'We have a responsibility to be here and be part of the solution,' said House Agriculture Committee ranking member Angie Craig, D-Minn., who stayed. Still, she criticized 'the stealth dealing from the Trump administration related to hawking memecoins from the White House.' When the Senate reconvenes Monday to take back up the stablecoin bill, progressives will push to prevent Trump from profiting off affiliated digital assets — again exposing many of the same fault lines. It's a no-go for Republicans, and the bill's Democratic authors call it redundant. 'Congress should not pass a stablecoin bill that acknowledges that stablecoins can be a vehicle for corruption — and exclude Donald Trump from the bill's reach,' Warren, the top Democrat on the Senate Banking Committee, told Semafor. Crypto skeptics off the Hill want Senate Democrats to take a harder line. They point to Senate Majority Leader Chuck Schumer's effort to stall Trump's Justice Department nominees in protest of Qatar's offer to give him a jet. 'You're willing to place a redline on the Qatari jet deal, but you're not willing to do the same thing for what's arguably a financially larger and equally problematic quid pro quo or conflict of interest blooming?' said Mark Hays, associated director for cryptocurrency and financial technology at Americans for Financial Reform. If the Senate can muscle through, House Republicans want to include the stablecoin bill in a more sweeping overhaul. But the stablecoin clash has everyone bracing for a much harder fight. 'I had no idea how hard this was going to be,' said Sen. Cynthia Lummis, R-Wyo. The left's issues with crypto extend far beyond Trump, so a version of this blowup was unavoidable. Progressives slamming the Trumps' dealmaking also have outstanding concerns over other provisions in the stablecoin bill — including how it treats tech companies. Still, no one expected this bill to go so far off the rails. It's easy to foresee similar future devolvements — particularly as Schumer faces sustained pressure to align with the left after a bruising government funding fight. The administration says the Trumps' crypto deals are above board, so they shouldn't have a bearing on congressional negotiations. 'President Trump is dedicated to making America the crypto capital of the world,' White House deputy press secretary Anna Kelly told Semafor. 'His assets are in a trust managed by his children, and there are no conflicts of interest.' Rep. Sam Liccardo, D-Calif., is 'not eager to hold up regulation of an industry that desperately needs regulation' if Democrats can't coalesce around a way to stop Trump from making money off digital assets, Politico reports. Rep. Jamie Raskin, the top Democrat on the House Judiciary Committee, opened a probe into a dinner Trump hosted for the top buyers of his memecoin, The Washington Post reports.
Yahoo
a day ago
- Yahoo
BROAD ARROW'S EXPANSION IN EUROPE CONTINUES WITH THE ZOUTE CONCOURS AUCTION IN BELGIUM
AUCTION SET FOR 10 OCTOBER IN COLLABORATION WITH ZOUTE GRAND PRIX CAR WEEK | NEW SALE ANNOUNCED ON THE HEELS OF BROAD ARROW'S SUCCESSFUL FIRST EUROPEAN AUCTION AT THE CONCORSO D'ELEGANZA VILLA D'ESTE IN PARTNERSHIP WITH BMW AG Karsten Le Blanc (left), Head of Broad Arrow's EMEA Region & Broad Arrow Capital, Koen Van Hout, CEO of Zoute Grand Prix Car Week, and Kenneth Ahn, President of Broad Arrow, at the Concorso d'Eleganza Villa d'Este Auction in May 2025 A selection of significant collector cars on display at the Zoute Concours d'Élégance 2023 on the grounds of the Royal Zoute Golf Club. LONDON, England, June 02, 2025 (GLOBE NEWSWIRE) -- Broad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is delighted to announce the addition of a new event on its global auction calendar—The Zoute Concours Auction, held in collaboration with Zoute Grand Prix Car Week (8-12 October 2025) in Belgium. Set for Friday, 10 October on the grounds of the beautiful Approach Golf in Knokke-Heist, a stone's throw from the beach, the single-day auction will present approximately 70 exceptional collector cars across a wide variety of categories, marques, and price points. 'We are thrilled to announce the Zoute Concours Auction as our newest sale date just days after a fantastic European auction debut for Broad Arrow,' says Karsten Le Blanc, Head of Broad Arrow's EMEA Region & Broad Arrow Capital. 'Our great success at the Concorso d'Eleganza Villa d'Este Auction is a testament to the team of experienced car specialists and seasoned industry operators we have assembled in EMEA, and we look forward to collaborating with Koen Van Hout and the Zoute Grand Prix team to bring the Broad Arrow experience to Belgium this fall.' Gregory Tuytens, Head of Consignments in Belgium & The Netherlands for Broad Arrow adds: 'I've personally enjoyed a longstanding relationship with Zoute Grand Prix, an event beloved by European collectors and enthusiasts alike. The exclusivity of the event and the genuine passion for motoring exhibited throughout the week make Zoute a fantastic next step in expanding Broad Arrow's European presence. The festival draws important collectors from around the world, and we're excited to curate an exceptional selection of collector cars for auction to suit their tastes and enhance the incredible cars that descend on Belgium for the Zoute Grand Prix Car Week in October.' Zoute Grand Prix Car Week, a staple on the European and international motoring calendar, is a five-day festival that blends exceptional automobiles, avant-garde art, and a luxury lifestyle, promising a truly unforgettable celebration in beautiful Knokke-Heist. Broad Arrow's Zoute Concours Auction will be held in conjunction with the return of the prestigious Zoute Concours d'Élégance by ING Private Banking on Saturday 11 and Sunday 12 October. The auction is expected to offer approximately 70 highly curated cars, alongside an impressive display of automotive elegance at the Zoute Concours d'Élégance by ING Private Banking. Koen Van Hout, CEO, Zoute Grand Prix adds: "We are very proud to announce our partnership with Broad Arrow, a second international auction house, during the Zoute Grand Prix Car Week, a natural and exciting collaboration between two ambitious companies united by a shared vision of the future, a passion for excellence, and the drive to expand our global reach. This is a partnership that will strengthen the international character of our event and take the Zoute Grand Prix Car Week to new heights." The announcement of the Zoute Concours Auction follows Broad Arrow's European auction debut as BMW AG's official auction partner of the Concorso d'Eleganza Villa d'Este. Held on 24-25 May at the stunning Villa Erba, the inaugural auction was a resounding success, totalling €31,2 million in sales with 78 percent of all lots sold. The vibrant auction saw several standout individual sales, including a new auction record for the top-selling 1948 Ferrari 166 Spyder Corsa at €7.543.750. Additional information on the Zoute Concours Auction is available at Early consignments will be announced in the coming weeks. Collectors interested in consigning to or attending the auction are invited to speak with a Broad Arrow car specialist about this exciting new About Broad Arrow AuctionsBroad Arrow Auctions, a Hagerty (NYSE: HGTY) company, is a leading global collector car auction house. Founded in 2021 by highly experienced industry veterans, Broad Arrow offers exceptional quality cars to collectors and enthusiasts around the world. As the fastest growing auction house in its segment, Broad Arrow's flagship annual events include The Monterey Jet Center Auction, in conjunction with Motorlux in California, The Amelia Auction, as the official auction of The Amelia (Concours d'Elegance) in Florida, and The Porsche Auction, in conjunction with Air | Water by Luftgekühlt in California. Broad Arrow expanded its global footprint in 2023, with renowned car specialists joining the team in the UK and Europe. Broad Arrow launched its first auction in Europe in May 2025 as the new official auction house of the Concorso d'Eleganza Villa d'Este in Italy in partnership with BMW AG. Learn more at and follow us on Instagram, Facebook, LinkedIn, and Twitter. About Hagerty, Inc. (NYSE: HGTY) Hagerty is an automotive enthusiast brand committed to saving driving and to fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 875,000 who can't get enough of cars. For more information, please visit or connect with us on Facebook, Instagram, X and LinkedIn. About Zoute Grand Prix Car WeekZoute Grand Prix is a captivating celebration of high-end lifestyle, art, and automotive excellence. What began in 2010 as a rally of historic cars among friends, has evolved into one of Europe's most prestigious events for lovers of both classic and contemporary automobiles. Now in its 16th edition, this five-day festival draws passionate collectors, connoisseurs, and car enthusiasts from around the world. Held in the heart of Knokke-Heist—one of Europe's most refined coastal towns—Zoute Grand Prix Car Week features a Classic Rally, a Concours d'Elegance, a GT Tour, and exclusive exhibitions of art and design. Visitors can admire iconic historic models alongside cutting-edge premieres from the world's most luxurious manufacturers, many making their European debut. In 2021, the event received international recognition as Motoring Event of the Year at the Historic Motoring Awards in London. Beyond the automotive allure, guests enjoy top-tier gastronomy, with celebrated chefs and premium dining experiences. Every detail reflects world-class hospitality and understated elegance, making Zoute Grand Prix an unmissable event for those who appreciate beauty, performance, and exclusivity. Discover more at Forward-Looking Statements - This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current intentions, expectations, or beliefs regarding the business. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that are difficult to predict and may be outside of our control. Some of the factors that may cause our actual results to differ materially from those contemplated by our forward-looking statements include: (i) our ability to recognise the anticipated benefits of the subject of this press release; (ii) our ability to compete effectively within our industry and attract and retain members; and (iii) the other risks and uncertainties listed in our Form 10-K filed with the U.S. Securities and Exchange Commission ('SEC') on March 14, 2023. This press release should be read in conjunction with the information included in our other press releases, reports, and other filings with the SEC. Understanding the information contained in those filings is important in order to fully understand our reported financial results and our business outlook for future periods. We do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. Attachments Karsten Le Blanc (left), Head of Broad Arrow's EMEA Region & Broad Arrow Capital, Koen Van Hout, CEO of Zoute Grand Prix Car Week, and Kenneth Ahn, President of Broad Arrow, at the Concorso d'Eleganza Villa d'Este Auction in May 2025 A selection of significant collector cars on display at the Zoute Concours d'Élégance 2023 on the grounds of the Royal Zoute Golf Club. CONTACT: Ian Kelleher Broad Arrow Auctions 917-971-4008 ikelleher@ Meghan McGrail Broad Arrow Auctions 519-365-8750 mmcgrail@ in to access your portfolio
Vogue
3 days ago
- Vogue
Moisés Nieto Spain Fall 2025 Collection
This season, Moisés Nieto celebrated the 15th anniversary of his brand, but instead of a lavish runway show, the designer opted for something more meaningful: an intimate dinner attended by a small group of press and many of his longtime friends. 'In the end, I feel like fashion shows have become cold spectacles,' said Nieto. 'There's no time to talk, people are in a rush. You bare your soul, and then it's over in a second. I wanted something different: to see the faces around me and, above all, to celebrate slowly.' In this more relaxed and private setting, the designer revisited some of the standout pieces and patterns that have made him a household name in Spanish fashion. The lineup included his signature trench coats, masculine outerwear, and midi dresses in a palette of neutral tones and beiges. 'When I started, I didn't have any business mindset. You'd present 40 looks, and the pieces the buyers wanted would always repeat. That's how I learned which designs work and which don't. You learn a lot from your customers.' Today, those customers are more loyal than ever to his unmistakable craft.
