Press release
2MB
september 03, 2020 - Sotheby
Sotheby's Wine Announces Extensive Autumn Sales Series
Over 20 Auctions Scheduled to Take Place Between September and December 2020
Following Year-to-Date Sales of Almost $50 Million
London | New York | Hong Kong: Live & Online
Featuring Five Auctions Dedicated to Private Collections, Including:
The Scholarly Cellar of Dr. Gordon Ku
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The Park B. Smith Cellar, Celebrating California
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Vine ׀ A Fine West Coast Cellar
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Plus, Two Single Cellar Private Collections in Hong Kong to be Announced
NEW YORK & LONDON, 3 September 2020 – This autumn, Sotheby's Wine will present an extensive series of auctions of wines and spirits, following an exceptional result for the first eight months of the year, during which period sales exceeded over $49 million across 20 auctions, over 6,700 lots were sold, and $28 million of wine and spirits sold online. A key driver of Sotheby's Wine's success was in reaching a new and young audience, with 50% of first-time bidders aged in their twenties or thirties.
Over twenty wines and spirits sales – both live and online – are scheduled to take place between September and December, including five auctions dedicated to private collections. The enduring value of great condition and provenance was borne out by the results of the five single owner auctions held thus far this year, which totalled $26 million, representing 58% of sales.
Our expansion of – and transition to – online sales is moving quickly, building on the #digital transformation of our wine and spirits #business. Over 1,000 bidders from more than 40 countries participated in our auctions, with online purchases representing 67% of wine lots and 83% spirits lots.
Jamie Ritchie, Worldwide Head of Sotheby's Wine, commented: "Innovation has long been at the heart of Sotheby's Wine but never has it been quite so critical to our #business as it has been over the past few months. As the pandemic swept across the globe we have adapted, transitioning our #business online and embracing the endless possibilities that technology and the #digital age have to offer. The #digital transformation in the wine and spirits #business has been accelerated by five to ten years as innovation, automation, simplicity and empowering clients is very clearly the future. These #digital tools enable us to reach a much broader, younger and more dynamic market, while we continue to enjoy the support of our traditional clients. Throughout this period, across all areas of our #business, we have striven to be ahead of the curve with our #digital innovations, thereby allowing us to lay the groundwork for a series of new features from Sotheby's Wine which we look forward to introducing through year end."
After launching our Spirits #business last year, this segment of the market saw the fastest growth setting three new auction world record prices through July this year – for a bottle of Japanese whisky, a bottle of Cognac, and for any bottle of The Dalmore. The autumn calendar is set to unveil some exciting sales and announcements in the world of collectible spirits.
Domaine de la Romanee-Conti
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