Sold! Wine Auction Action
Wine auction sales spiked in 2018, climbing to over 479 million dollars worldwide. Investors looking to buy premium wine online are not shying from auctions either. Online sales rose to 74.9 million for a 30% rise from 2017. Devotion to Burgundy may have a lot to do with the spike, edging out Bordeaux for the first time at some houses. Domaine Romanée-Conti and Château Mouton-Rothschild were amongst some of Sotheby’s most astonishing sales although it was a rare bottle of Macallan, a Scotch whisky, which took top honors going for more than 1.5 million. Concern for provenance is another factor driving consumers to auctions, meaning they may be buying not as an investment, but to consume. Good news for all of us—wine was made for drinking!
Related Link: Global Wine Auctions Exceed $479 Million in 2018