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Sotheby's Wine reaches record heights In 2019

Time:2019-12-26 03:45wine - Red wine life health Click:

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NEW YORK, NY.- Sotheby’s Wine’s annual worldwide sales significantly exceeded $100 million for the second consecutive year, led by a 20% increase in auction sales to a total of $118 million.

Jamie Ritchie, Chairman, Sotheby’s Wine, commented: “2019 has been another record-setting year for Sotheby’s Wine. We achieved our highest-ever annual total for both auction and retail, and continued to innovate, demonstrated by: the presentation of our auction catalogues as well as online-only sales; the launch of both our spirits business and the Sotheby’s Own Label Collection. There were several historic moments: in the spring, we had a monumental, $35 million, record-breaking weekend in Hong Kong, with the world auction record for any series of wine sales. This was followed in the autumn by our first-ever single-owner spirits auction, which saw the highest-ever price for any bottle of wine or whisky sold at auction. The launch of Sotheby’s Own Label Collection is a natural extension of our expansion into the retail business, providing a range of affordable wines that are classic examples and typical of each region. 2020 will be our 50th anniversary year and will celebrate the evolution of our wine business since our first sale in Glasgow in 1970.”

Below is a look at some of the highlights of both auction and retail sales that drove these outstanding results:

AUCTION HIGHLIGHTS

• In April, Sotheby’s Wine set a new world record for a private wine collection sold at auction when Tran-scend-ent Wines in Hong Kong realised HK$233.6 million / US$29.8 million, surpassing its pre-sale low estimate of HK$147 million / US$19 million. The sale was part of a four-day series of auctions in Hong Kong which set a world record for any series of wine sales, with a combined total of HK$273.1 million / US$34.8 million.

• In October, the ‘white-glove’ sale of The Ultimate Whisky Collection smashed its pre-sale high estimate, achieving $10 million and establishing a new auction record for any bottle of wine or spirit when The Macallan 60-Year-Old 1926 sold for $1.9 million, far surpassing its estimate of ,mesotheliomaasmr8

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