JV to reinvigorate London auction market

Vanquish Wine has partnered with Spectrum Wine Auctions to bring back “the buzz” to the London auction market.

Together the two companies will hold their first auction in February next year in a “fun and exciting new venue,” and not a “traditional auction house,” according to Richard Brierley, head of the Vanquish fine wine division.

Speaking to the drinks business, Brierley said, “We want to bring some of the buzz that surrounds auctions in New York and Hong Kong to the established London market… and change and challenge it to be more global.”

Brierley, who was formerly head of North American wine sales for Christie’s added, “Auctions in London are on Wednesdays and Thursdays during the day and attendances are smaller but with my experience and Spectrum we can bring a fresh and vibrant approach to what was always the capital of the auction world.”

As for the planned February event, Brierley said, “We are not going to do it on a Wednesday at 11 o’clock and not in a traditional auction room but in a fun venue where we can share a glass of Champagne.”

He also said that the auction would not be an all day sale with over a 1,000 lots but “a focused 200-300 lots and the best of the best.”

Meanwhile, he explained that Spectrum brings the “technology, expertise and international reach” to the new venture.

Brierley further stressed that there is still enormous potential in the London auction market. “There are great cellars here and a lot of passionate collectors… the wines are well stored and mature.”

Concluding he said, “We want to bring a sense of fun and passion back to the [London auction] market.”

Vanquish is a London-based luxury drinks wholesaler and brand builder with an expanding private client base and fine wine fund called Magenta.

Spectrum Wine Auctions is a subsidiary of Spectrum Group International, a leading auctioneer of stamps, coins and other memorabilia, as well as trader of precious metals.