Sotheby’s wine sales surpass $100m

Auction house Sotheby’s has announced that this year its wine and spirit sales have crossed US$100 million for the first time.

After a bumper series of results this year which have included a bottle of 1945 Romanée-Conti selling for $558,000 (pictured), another seven Methuselahs of the 2005 going for $1.5m in New York and $843,200 for a bottle of 1926 The Macallan, sales have broken through the $100m mark for the first time.

As well as some high profile results in its auction and retail wings, several large collections have also helped power the results including The Philanthropist’s Cellar, The Cellar from the Estate of Jerry Perenchio and Finest & Rarest Wines which were all 100% sold and made $29m combined.

Jamie Ritchie, Worldwide Head of Sotheby’s Wine, commented: “2018 has been a record-setting year for Sotheby’s Wine in all areas of our business, and surpassing $100 million is a significant milestone in the growth of our wine and spirits business. We continue to achieve record prices at both auction and retail, as well as present the most important single-cellar collections, tailoring each one to suit the wines in the collection.

“In addition, we have continued to innovate with the launch of our Wine Advisory Services business and Instant Cellars, and make important developments in the sales of spirits through our new online platform. We are looking forward to 2019, with plans to introduce new features and services, as well as announcing a series of outstanding single owner auctions.”