Wine auctioneer Hart Davis Hart sees sales rise

By Reuters
Posted Dec. 20, 2010 at 4:21 p.m.

Chicago-based Hart Davis Hart reported its yearly wine auction sales totaled $39.2 million, a 63 percent increase over 2009.

Other auction houses also said sales approached or surpassed pre-recession levels of 2007. Sotheby’s auctioned more than $88 million worth of fine wines in 2010, twice the amount it sold in 2009, the company reported on Monday.

While sales were up in both New York and London, the lion’s share of the increase came from the Asia market where sales rose 265 percent year on year.

Hong Kong sales grew to more than $52 million in 2010 from $14.3 million a year earlier.

“This has been a landmark year for Sotheby’s Wine. We achieved our largest ever total (of sales),” Serena Sutcliffe, worldwide head of wine at Sotheby’s, said in a statement.

The October sale in Hong Kong of top growth wines directly from the cellars of the Chateau Lafite Rothschild set a new record for a single, standard-size bottle when a 1869 Bordeaux was sold for $232,692, Sotheby’s said.

Christie’s reported global wine sales topping $71 million for 2010, up from $50.4 million in 2009.

New York-headquartered Zachy’s Wine Auctions, which also holds sales in Hong Kong, said it sold $56.5 million worth of wines.

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One comment:

  1. DJL Ferreira Dec. 27, 2010 at 2:34 pm

    News letter