An exceptionally rare 1967 Ferrari 365 California Spyder by Pininfarina, the ninth of just 14 built, will highlight an auction of classic cars and other vehicles in Miami next month.
RM Sotheby’s will conduct a two-day auction from March 1-2 with 119 motor vehicle lots at the first ModaMiami extravaganza. On offer will be boats, motorcycles, and a plane, too.
The Spyder is in exceptionally original condition, with certification from Ferrari Classiche that it retains its matching-numbers chassis, engine, transmission, rear axle, and body. The car is chassis number 9935, completed in May 1967 and in the hands of two long-term owners (four owners total). It was specified with China Red paint and a white-leather interior that matched the Los Angeles-based first owner Nancy Tewksbury’s 275 GTS. The coachbuilt car was bought by Donald Grove, a Princeton physicist, in 1971. Grove restored the car and kept it for 27 years. The Spyder is estimated to achieve between US$4 million and US$4.5 million.

RM Sotheby’s
Another notable car at the auction will be a 1929 Duesenberg Model J “Sweep Panel” dual-cowl phaeton with coachwork by LeBaron. The car’s original owner was Phillip K. Wrigley, who took over the famous chewing gum company (and the Chicago Cubs) from his father, William Wrigley, Jr. The younger Wrigley traveled to the Duesenberg factory in Indiana to see his car being built. It is chassis 2177 with engine J-121, originally with a Murphy body.
After a year and 10,400 miles, Wrigley decided he preferred the dual-cowl LeBaron phaeton body on a friend’s car better, and so he retained his original chassis but swapped on the LeBaron body. It was the kind of thing that was possible on cars with body-on-frame construction. The Duesenberg is estimated to achieve between US$2.65 million and US$2.85 million.

RM Sotheby’s
From the racing side of things comes a 1966 Porsche 906 Carrera S with competition history, initially driven by first owner Josef “Sepp” Greger. The car ran to victory in the two-litre class at the European Hillclimb Championship in 1966 and the European Mountain Championship in 1968. Under new owners, it competed in other German races in 1971 and 1972, then went to Macau, where it also raced but did not finish. It took part in some 80 races (achieving more class wins than any other 906) and was even used briefly as a road car. Under New York owner Jean Goutal, who bought the car in 2003, it was finally fully restored by Porsche racing specialist Kevin Jeanette’s Gunnar Racing. After three years of work, the Carrera is now virtually as-delivered, with many period details. The estimate is between US$1.8 million and US$2.8 million.

RM Sotheby’s
Other special cars in the RM Sotheby’s Miami auction include:
— The 1964 289-powered Mark II AC Cobra is a late production model with rack-and-pinion steering and a pair of dual-barrel carburetors from the factory. The car retains its original engine, which offers 271 horsepower. Originally sold in Illinois and then Ohio, the car was on the cover of the first Cobra World Registry in 1974. The Cobra was repainted in the 1980s in its current classic blue with white stripes. After extensive service in 2022 by Cobra specialist Rare Drive in New Hampshire (including a rebuild of the brakes and suspension) it is ready for the road. The car has never been in an accident or had extensive modifications. It’s estimated at US$1.1 million to US$1.3 million.
— The 1929 De Havilland DH60GM Gipsy Moth is a restored airplane from the early days of aviation that was used in the making of the 1985 hit film Out of Africa. In keeping with that history, the plane’s sale benefits a rhinoceros sanctuary in Kenya. This all-metal Gipsy Moth was built under a De Havilland license in the U.S. in 1929. It was then shipped to the UK, where it was eventually registered G-AAMY to celebrate the career of British aviatrix Amy Johnson, the first woman to fly solo from England to Australia in her own Gipsy Moth. In 1985, the plane was dismantled and shipped in two crates to Nairobi by way of Germany. It subsequently appeared in numerous scenes in Out of Africa , which starred Meryl Streep and Robert Redford and is based on the 1937 autobiography of that name by Isak Dinesen (a pseudonym for Karen Blixen). The plane has been regularly maintained and now has an uprated De Havilland Gypsy II engine that makes 135 horsepower, and is said to be eminently air-worthy. The plane is projected to bring US$140,000 to US$220,000.

RM Sotheby’s
— The 27-foot 1941 Chris-Craft Model 115 Custom Runabout “Runaway Jane” is the only survivor of three of these triple-cockpit wooden boats built that year. It was restored by Michigan experts in 2002 and has been sympathetically maintained since then. Power now comes from an 8.2-liter Mercruiser V8 with more than 300 horsepower, considerably enlivening the original performance. Only 62 examples of this 27-foot craft were built over a 10-year period.The low estimate is US$175,000 and the high US$225,000.

RM Sotheby’s
There are, of course, many other vehicles being sold, including a series of BMW M cars, and classic Mercedes, including examples of the 540K, the 770K, and the 300SL.
The Australian leather house has opened an immersive four-day pop-up in Manhattan, unveiling its Bloom Collection and redefining what a product launch can look like.
Following the successful launch of its Palais Collection, MAISON de SABRÉ has unveiled a new modular handbag system offering more than 720 styling combinations.
Nvidia’s earnings will test Wall Street’s confidence in the AI boom.
Chip makers are fighting to assure investors that the artificial-intelligence boom is racing forward. Wall Street might not believe it until Nvidia’s NVDA -0.98%decrease; down pointing triangle Jensen Huang says so.
When Huang steps up to the mic for his company’s earnings call Wednesday, he will have the world’s attention. What he says about Nvidia’s present will preview the future of AI, dictate the path forward for a tech-crazed stock market and influence an American economy increasingly tethered to hopes that the boom won’t go bust.
The $5 trillion chip maker has provided the key building blocks for AI since the launch of ChatGPT in 2022 set off a race for dominance among OpenAI, Anthropic and established Silicon Valley giants. Now, as Nvidia backstops sprawling data-center projects and an exotic money pipeline to boost chip demand, the company’s influence is arguably bigger than ever.
But there are signs of trouble ahead. Political pushback to AI is growing. A bond selloff propelled borrowing costs to their highest levels in years. The hyperscalers that include some of Nvidia’s key customers—once cash-printing machines—are relying more on debt. OpenAI recently told investors its revenue rose by a tepid 18% in the second quarter while its losses deepened.
Nvidia is increasingly stepping in to shore up potential weak points across the market. Earlier this month, the company teamed up with six of Wall Street’s biggest firms on a $500 billion AI-financing plan, pledging to backstop lending to customers that can’t afford its chips otherwise. The chip maker last week also took a stake in Cloverleaf Infrastructure, which arranges power for data centers, and struck a $6 billion deal with startup Poolside aimed at developing a powerful open-weight AI model.
After watching shares in other chip makers and the so-called Magnificent Seven tech companies swing wildly in recent months, Wall Street is hoping Nvidia can beat expectations—again. The countdown is on.
“It’s kind of becoming more and more like the World Cup final than the Super Bowl at this point,” said Brian Mulberry, chief market strategist at Zacks Investment Management. “It’s just gotten to be that big.”
The company has smashed analysts’ earnings estimates for each of the 14 quarters since the AI boom kicked into high gear. Nvidia posted 210% annual growth in net income in its last three-month period, according to FactSet, making Wall Street’s 126% projection look pedestrian.
Expectations for a blowout second quarter have risen rapidly over the course of this year. All Nvidia will have to do to beat this target: outrun 95% annual earnings growth to more than $51.5 billion. Analysts project the chip maker will report record sales of $92 billion for the period, up from a forecast of $78 billion at the start of this year.
In July, big-tech earnings sparked volatility. Concerns about runaway capital spending spread across the sector after Alphabet’s and Tesla’s results, driving a $890 billion wipeout that contributed to the unwind of hedge fund Situational Awareness. Microsoft posted the largest one-day gain in market capitalization by any company, ever, after a quarter proving that it could still show investors the money. SpaceX rocketed higher after a record-breaking initial public offering, only to see $1 trillion in value evaporate.
Surging memory prices and borrowing costs have fueled fears that those and other companies will be unable to keep plowing more money into supplies including Nvidia chips. Shaia Hosseinzadeh, founder of OnyxPoint Global Management, has recently bought dips in AI-infrastructure stocks when Wall Street has strained to absorb massive debt issued by Silicon Valley.
“The macro data is really quite robust,” he said. “Of course, there’s a level at which everything breaks.”
Investors have kept pumping money into the AI trade despite concerns around chip consumers—and to the benefit of chip producers. That is why Nvidia’s outlook for semiconductor demand could send ripples through counterparts such as Micron Technology and Sandisk, developers of the data centers in which their chips reside, and a supply chain of power producers, contractors and other specialists that underpin the globe-spanning AI build-out.
“We joke internally that we’re all Nvidia analysts now,” said David Lefkowitz, head of U.S. equities at UBS Global Wealth Management.
The irony is that investors have tended to sell Nvidia stock immediately after blockbuster earnings, with shares falling each trading session after its four past quarterly reports. Some are betting that will be the case this time around, too.
The options market is pricing in a 5.3% swing, higher or lower, in Nvidia shares during the session following earnings, according to Option Research & Technology Services. That is higher than the 4.8% average move in Nvidia’s stock over the last 12 months after the company reports quarterly results.
In recent days, some of the most actively traded Nvidia options have been put contracts tied to the stock falling from its Friday value of $214.75 to $205 and $210 apiece, according to Cboe Global Markets data. Put options give the right to sell a stock by a set price and typically represent a bearish wager.
Many analysts remain optimistic. Frank Lee, global head of tech hardware and semiconductor research at HSBC Global Investment Research, recently raised his price target for Nvidia shares to $360 from $325, citing, among other things, Nvidia’s strategic partnerships with suppliers and its role as a top contributor to open-source AI.

