[transient]

Modo 103 is non upgradable.

From Daz:

Ready to Go

• Software delivered via download (no hardware dongles!)
• Upgradeable to later versions of modo
• Viewport navigation and keyboard customization to match other 3D applications you may use
• modo purchase includes both Mac OSX and Windows 2000/XP versions

From Lux:

If you are signed-in and already own modo (10X or 20X versions), you now have the option below to place a pre-order for the modo 301 upgrade at a reduced price also.

Where did you get the idea it wasn't upgradeable? If your right Daz should make it clearer.

[edit] From lux forums:

Everyone who purchases modo 103 can upgrade to 203 for $395, and get the free upgrade to 301, when it ships!

This way you're actually buying 301, regularly priced at $895, for 40% off!

OR

You can buy modo 103 now for $139 and when you register your modo 103 at Luxology's website, you can then pre-order the 301 upgrade for $295 directly from them. You will, however, NOT get 203 in the interrum, but you will save an extra $100!!!