The venerable auction house
smashed several previous records this yearsomething we can all
raise a glass to.
Sotheby’s
Wines annual worldwide sales reached an important new
milestone in 2018. The global auction house announced on Monday
that its Wine division had surpassed annual sales of $100 million
in a single year for the first time. Given the record-setting wine
sales in New York and Hong Kong, Sothebys Wine reached its
highest-ever sales total in both locations since the stores were
opened.
In March, Sothebys Wine brought in more than $29 million during
a two-day Hong Kong auction. In October, a bottle of Domaine de la
Romane-Conti 1945 sold for $558,000 in New Yorkthe highest price
ever paid for a bottle of wine at auction. A second bottle of the
same wine sold immediately afterward for $496,000.
On the same day, a bottle ofthe
Macallan 1926 60 Year Old Sir Peter Blake Labelsold
for $843,200, making it the priciest spirit ever auctionedin North
America, as well as the highest price ever paid for a single spirit
in Sothebys history. Aged in sherry casks for sixty years and with
only forty bottles ever created, the whisky was one of the oldest,
rarest vintages every produced by the Scottish distillery.
Last month seven methuselahs of Domaine de la Romane-Conti 2005
were sold together in Hong Kong for $1.5 million, a record high for
a single transaction for the auction houses wine retail business
worldwide.
2018 has been a record-setting year for Sotheby’s Wine in all
areas of our business, and surpassing $100 million is a significant
milestone in the growth of our wine and spirits business, commented
Jamie
Ritchie, Worldwide Head of Sotheby’s Wine. We continue
to achieve record prices at both auction and retail, as well as
present the most important single-cellar collections, tailoring
each one to suit the wines in the collection. In addition, we have
continued to innovate with the launch of our Wine Advisory Services
business and Instant Cellars, and make important developments in
the sales of spirits through our new online platform. We are
looking forward to 2019, with plans to introduce new features and
services, as well as announcing a series of outstanding single
owner auctions.
In addition to record-breakingsales, Sothebys Wine also unveiled
bespoke services geared toward budding wine connoisseurs. This
summer, Sothebys Wine launchedWine
Advisory Servicesin New York. A team of knowledgeable
consultants help clients to determine their preferences and build
their ideal collections. Following the success of the New York
service, Sothebys plans to launch a Hong Kong branch in 2019.
The auction house also launchedInstant
Cellarsin New York and Hong Kong this yeara one-click
service in select cities that delivers a curated wine collection
overnight. A handful of cellar collections are currently available,
selected by the companys global wine specialists and filtered by
price, color, region, and quantity to complement various collection
goals.
To learn more, visit the Sotheby’s Wine website here.