The Truth About the $70 Steak
Monday, October 26, 2009 at 10:33AM Allow me to set the record straight: I don’t go around recklessly spending $70 (or more…) on steaks. Everyone is watching their spending these days, and I’m no exception. But I will give Sam Fox credit for having the guts to launch such a lofty endeavor like Modern Steak.
I highly doubt that the majority of dinner customers are going to order the highest priced steak on the menu. The best steak I ever ate at a restaurant was at Bern’s Steakhouse in Tampa, and it didn’t even come close to costing $70. It wasn’t a la carte, and it came with salad, soup, vegetable and a potato. Expensive, but a great value. A close second is the Cowboy Ribeye at BLT Steak which was expensive, but not $70. (Edit: a subsequent visit to BLT Steak confirms that their Cowboy Ribeye, at $55, is the best steak I've ever had!)
I’ve said it before and I’ll say it again: Almost without exception, I can cook a better steak on my grill at home than I can get at any restaurant at any price. Prepared well, a good steak from Costco or AJ’s will never disappoint.
For those who like to criticize, let’s face the facts:
- If there wasn’t a market for expensive food (or cars, or houses…) then everyone would be eating Top Ramen from the seat of an economy car. There is a time and a place for indulgence; the definition of “indulgence” is different for everyone.
- Don’t bet against Sam Fox. Despite the fact that this market is saturated with high-end steak restaurants, there is room for one more if the food, service and atmosphere surpass the customer’s expectations. Sam doesn’t have many “misses” on his record. I think the food is awful at Olive & Ivy, but he has turned it into more of a “scene” than a restaurant and it’s packed at night. A foodnik destination? No. But it’s successful.
- Why fault someone for taking a risk? The construction of Modern Steak created local jobs. The restaurant is not a national chain (like Ruth’s Chris, Morton’s, etc); it is locally owned and helps our struggling economy. The economy won’t turn around until people DO SOMETHING and spend money, and Sam Fox has certainly done that. Simply put: if you don’t like it, place your vote by not patronizing it.
-Despite a dire need, Westcor was NOT going to use the space occupied by Modern Steak as a homeless shelter.
I’ll give Modern Steak a try once they have had some time to work out the kinks. It’s unlikely that I’ll order a $78 steak, and I’ll be sure to report back here when I’m done.


Reader Comments (1)
To steal a quote from another blog, "The $78 dollar steak is akushi. Highly prized, highly tasty, heart healthy and very expensive." I agree with what you are saying on most of your points, but the truth about the $70 steak lies in the quote above, which is no different than the discussion between a $30 bottle of wine and a $300 bottle of wine. You can find great flavor in both price ranges, but you bet there is a considerable difference between the flavor in a prime and akushi grade steak. Prime suits me just fine, but i won't turn down a bite from a slab of akushi butter goodness.