2017 Wine Auction Totals Exceed $371 Million

January 26, 2018

U.S., Hong Kong and online sales soared last year; red Burgundy continues to spur heated bidding

The growing U.S. economy and a surging stock market that seems to be setting new highs every week are making wine collectors bullish. In 2017, worldwide wine-auction totals (culled from sales conducted in the U.S., U.K. and Hong Kong markets, plus online sales) rose a strong 9.6 percent to $371.1 million, up from $338.7 million in 2016. (Global wine-auction sales peaked at $478 million in 2011.) The last quarter of 2017 matched the solid performances of the first half and third quarter.

Overall, the 2017 auction season was characterized by a spate of single-owner consignments from celebrated collectors and winery-direct offerings that sent prices soaring over estimates because of their pristine provenance. A robust stock market (the Dow Jones Industrial Average rose 25 percent in 2017) likely also contributed to bidder confidence.

Continue reading: Wine Spectator





Also in News

The Persistence of Bordeaux
The Persistence of Bordeaux

June 14, 2019

Year after year, the same bottles turn up Wine-Searcher’s list of most wanted. Comparing this year’s list with an all-time list reveals little change. It is a club dominated by Bordeaux, with the occasional outlier of Opus One or Sassicaia—both of which happen to be Bordeaux blends.

Continue Reading

Bordeaux Futures Forecast
Bordeaux Futures Forecast

June 12, 2019

Will it be sunny skies and smooth sailing for 2018 Bordeaux? As more producers release their futures, the prices have picked up. Case in point is Château Lynch Bages releasing at 20% higher than last year. Whether consumers will buy fine wine at elevated prices it is hard to say. 

Continue Reading

A New Classic Port
A New Classic Port

June 07, 2019

After a five year hiatus, 2017 marks the second year in a row that a classic vintage has been declared in Port.

Continue Reading