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.
“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.
HONG KONG SALES
The Scholarly Cellar of Dr. Gordon Ku
5 September
Pre-Sale Estimate: HK$27.1 – 37.3 million / $3.5 – 4.8 million
First Single Cellar Private Collection (to be announced)
3 October
Pre-Sale Estimate: HK$25.7 – 37.8 million / $3.3 – 4.8 million
Second Single Owner Private Collection (to be announced)
3 October
Pre-Sale Estimate: HK$12.7 – 17.5 million / $1.6 – 2.2 million
Finest & Rarest Wines and Spirits
4 October
Pre-Sale Estimate: HK$21.8 – 30.9 million / $2.8 – 3.9 million
Third Single Owner Private Collection (to be announced)
November (TBC)
Vine | Fine Wines | Hong Kong
2 – 8 September
30 October – 10 November
27 November – 8 December
Distilled | Fine Spirits | Hong Kong
23 – 29 September
30 October – 10 November
27 November – 8 December
LONDON SALES
Ornellaia Vendemmia d'Artista 2017 | Tomás Saraceno
1 – 9 September
The Ultimate Whisky Collection Part II + More
31 October
Vine | Fine Wines | London
25 September – 6 October
13 – 24 November
4 - 15 December
Distilled | Fine Spirits | London
20 November – 1 December
NEW YORK SALES
Vine | The Park B. Smith Cellar, Celebrating California
18 – 29 September
Pre-Sale Estimate: $1 – 1.3 million
Vine | A Fine West Coast Cellar
2 – 13 October
Pre-Sale Estimate: $1 – 1.3 million
Vine | Distinguished Collections, Including The Park B. Smith Cellar, Celebrating Rhône
16 – 27 October
Vine | Fine Wines | New York
6 – 17 November
Distilled | Fine Spirits | New York
November 2020
CONTACT INFO
London | +44 (0)20 7293 6000 | Matthew Floris | Matthew.Floris@Sothebys.com
New York | +1 212 606 7176 | Alexandra Fizer | Alexandra.Fizer@sothebys.com
Hong Kong | +852 2822 8143 | Agnes Yung | Agnes.Yung@sothebys.com
About Sotheby’s Wine
Sotheby’s Wine’s annual worldwide sales in 2019 significantly exceeded $100 million for the second consecutive year, led by a 20% increase in auction sales to a total of $118 million – the highest-ever annual total in Sotheby’s history.
Sotheby’s Wine, with a store located within the auction house’s worldwide headquarters on New York’s Upper East Side, offers a carefully curated selection of wines from the world’s most prestigious producers and important regions. Expertly assembled by Sotheby’s’ experienced specialists, the ever-evolving selection is built upon lasting relationships with winemakers from across the globe, with prices beginning at just $13.95. With bottles that are ready for immediate consumption, in addition to investment-worthy wines from highly sought-after vintages, each wine is chosen for its expression of its region and value for money. Each bottle selected by Sotheby’s specialist team must pass the brand’s signature “three-glass” tasting guideline, meaning that the tasters must like it enough to want to drink three glasses, or the standard amount enjoyed when sharing a bottle.
The Sotheby’s Wine Store in New York City is located at 1334 York Avenue, and is open Monday through Friday from 10AM to 7PM and Saturday from 10AM to 6PM. Along with a retail location in Hong Kong Sotheby’s Wine also offers all bottles online, 24 hours, at www.sothebyswine.com.
