New York’s first autumn auction smashes estimates

New York’s first autumn fine wine auction has significantly surpassed estimates, raising over US$2.6m and shifting 97% of the lots on offer.

As reported by the drinks business in mid-August , this Christie’s auction contained a selection from the cellars of the 21 Club, one of New York’s most famous restaurants.

“We are pleased to report that the first wine sale of the fall season here in New York was a resounding success, with total sales of more than $2.6 million and a sell-through rate of 97%,” said Charles Curtis MW, head of North American wine sales at Christies.

The sale, which included over 670 lots sourced from several prominent collections, was expected to raise in excess of US$1.9 million.

Curtis continued: “This sale featured a diverse group of wines, all of which performed quite strongly. Marque names from great vintages in Bordeaux and Burgundy led the top 10, while top California wines, recent vintages of claret, rarities such as Vega Sicilia, and a special consignment from New York’s 21 Club all performed at or above pre-sale estimates.”

Commenting on the source of bids, he added: “In all, this sale enjoyed active participation from private and trade clients in the United States, Asia, and Europe, many of whom were bidding online using Christie’s LIVE.”

Christies next New York fine wine auction will be on Thursday, 15 October.

Patrick Schmitt, 17.09.2009