Collecting Focus: Classic Cars
At ModaMiami, RM Sotheby’s will showcase an eclectic mix of motoring masterpieces and the shared experience that fuels car collectors worldwide, writes Thor Svaboe
ModaMiami returns to the Biltmore Hotel, Coral Gables, Miami. Photograph: RM Sotheby’s
While motoring is on the road to a more sustainable future, nothing can detract from the petrol-infused joy of a classic car. The rise of digital platforms has democratised access to rare and collectible automobiles, expanding the buyer base globally: enthusiasts can now connect, trade and share knowledge more easily, fostering a more inclusive community.
Motoring events such as car rallies and Concours d’Elegance—the latter format dating back to 17th-century Paris—have also adapted and diversified to modern tastes, with younger generations playing a larger role in shaping trends.
The milestone auction of RM Sotheby’s at ModaMiami on February 27-28 will kick off what many predict will be a sterling year for car collecting, says Peter Wallman, the chairman for UK and EMEA at RM Sotheby’s, who is enthusiastic about the vibrancy of the scene.
“There’s a dynamic to car collecting unlike any other collecting category. And that dynamic is going out, driving and sharing your passion with likeminded people,” says Wallman. For his part, Wallman came into the car auction business from advertising more than two decades ago, having owned a 1961 Jaguar E-Type, and, more recently, a 1969 Ferrari 365 GT 2+2, which he uses to take the family on speedy runs across continental Europe.
A line up of classic cars at ModaMiami’s 2024 edition. Photograph: RM Sotheby’s
Wallman loves “all areas of collecting”—including watches. “But if you’re wearing a nice timepiece, it’s not natural to go up and show it to somebody, whereas if you’re driving a nice car or parking on a lawn for a Concours d’Elegance, you’re sharing it, sparking conversation and friendships.” This extends to placing a classic car at the heart of your home. Garages are often designed to include a workshop where new generations can share the passion.
ModaMiami, returning for a second year to the historic Biltmore Hotel in Coral Gables, Miami sees RM Sotheby’s bring an eclectic mix of cars to auction. Prize lots range from a tiny 1959 Piaggio Vespa 400 with scooter-engine power to the 34ft-long, record-setting Spirit of America Sonic I, which in 1965, reached speeds of 600.601mph on the Bonneville salt flats of northwestern Utah, driven by its designer Craig Breedlove (it would also beat the women’s land speed record at the hands of his wife, Lee).
These two extremes in power and presence underline the scope of the Miami auction, which is the third and final sale (following Stuttgart and Paris) in RM Sotheby’s landmark series in partnership with the Indianapolis Motor Speedway Museum.
“If we look at the cars from Indianapolis, it’s as much about the [individual] car, as how infrequently it might appear on the market,” says Wallman. “These cars are not museum pieces, in the sense they’re not antiquities. They are cars that can be enjoyed by their new owners. I’m excited by that collection and seeing how the market will react to it.”
A 1964 Ferrari 250 LM from the Indianapolis collection at the Paris sale. Photograph: RM Sotheby’s
Increasingly, architects are briefed to see cars as integral to their owner’s life: the scintillating red of a Ferrari Testarossa, for example, visible in the lounge from behind a glass partition, parked up in a workshop defined by bespoke fittings and gleaming white polished floors.
“Younger people are probably less likely than the older generation to have a warehouse full of 50 to 100 cars,” says Wallman. “The driving force for the future is going to be events giving the community reasons to use them. And that driving event—whether a race, a Concours, a garden party, or just personal use—underlines the fun of collecting cars.”
This article was originally published in Sotheby’s International Realty Extraordinary Living Blog in February 2025
