US auctioneers end first half of year on a high

Hart Davis Hart and Acker Merrall & Condit have reported strong sales and results as the first half of 2012 draws to a close.

Acker finished the season as the number one house in value terms but Hart Davis Hart has recorded the highest sell-through rate.

The final auctions for both houses were dominated by Burgundy, with Hart Davis Hart selling four bottles of Henri Jayer’s 1980 Nuits Saint Georges, Meurgers for US$7,767; and a case of 1993 Echézeaux, Henri Jayer for Georges Jayer for $23,900.

Acker meanwhile sold top lots including six magnums of 1999 Domaine George Roumier Musigny for $79,950 and a three bottle case of Domaine de la Romanée-Conti 2009 Romanée-Conti for $43,050.

The results led Hart Davis Hart’s CEO, Paul Hart, to comment: “The market for top Burgundy remains strong and will continue to grow, given the limited quantities.”

Acker finishes the season having sold 95% of the 17,942 lots offered so far this year for a total of $46,483,805.

“To finish the first half of 2012 again on top of the market is a great feeling,” commented John Kapon, CEO of Acker Merrall.

“Our clients have remained active, thirsty and loyal, and demand continues to stretch across the world as the wine market becomes more and more global. The rarest lots continue to attract feverish demand, as the sale’s top lots showed, and rightfully so. People continue to want the best, and that is what we will continue to give them in an exciting Fall season with eight live auctions already scheduled for New York, Chicago and Hong Kong combined.

“We are proud to be market leader, and we will continue to work very hard for wine lovers and collectors around the globe.”

Hart Davis Hart meanwhile made $14,962,731 in sales over its four auctions, three of which were 100% sold.

Having failed to sell a mere 11 lots since 2010, the house has the highest sell-through rate in the industry.

Sales will resume for both houses this September.

 

 

 

One Response to “US auctioneers end first half of year on a high”

  1. Courtney Richards says:

    all i’ve got for this is the damning evidence, once again exposed by Don Cornwell and straight out of Eric Greenberg’s greedy mouth:Sotheby’s Jamie Ritchie further testified about the discussions on counterfeit wines with Mr. Greenberg as follows:

    “Q. You testified earlier that when you visited Mr. Greenberg’s cellar on April 29, 2002 you had conversations with him in which you advised him that there was counterfeit wine in his cellar and wine as to which additional investigation would need to be done, correct?
    A. Yes.
    Q. What was Mr. Greenberg’s reaction?
    A. I seem to recollect that he was upset by that information.
    Q. Do you recall anything specifically that he said?
    A. He said if he had counterfeit wine, he could always sell it through Acker Merrall because John Kapon would take anything.”

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