North American buyers bouncing back at auction

Signs that the North American market is getting stronger were in evidence last weekend at Sotheby’s New York sale.

auctionThe auction on Saturday 9 November realised over US$2 million and saw the majority of its top-selling lots go to US buyers.

Some 58% of buyers came from the US, Canada and Mexico, while a further 9% came from Brazil in a faint confirmation of where experts have long said the next wave of fine wine buyers will emerge from.

US private buyers snapped up the two top lots, assorted cases of 1990 Domaine de la Romanée-Conti for US$49,000 apiece, while other another buyer picked up another assorted case of the 1985 for $45,937 and a trade buyer scooped a case of 1982 Lafite for $42,875.

Duncan Sterling, Head of New York Wine Auctions at Sotheby’s said: “Our November auction heralded the return of the American market with North and South America accounting for 14 out of the top 20 buyers including the top buyer of the sale. Online bidding was also important, buying 24% of the lots.

“We now look ahead to our 7 December single owner sale of ‘A Superb Private Cellar Featuring the Great Domaines of Burgundy’.”

Evidence that the US auction scene – and by association wider collecting scene – was growing again was first voiced by John Kapon of Acker, Merrall & Condit this September.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

Subscribe to our newsletters

Sale & Operations Manager

Marussia Beverages
Marylebone, London, UK

PRESTIGE ACCOUNT MANAGER – EUROPE

Jackson Family Wines
London, UK

Sales Executive

MAISON SASSY
London, GB

Head of Supplier Management - Group

Matthew Clark
London and Bristol, UK

Brand Manager – Whisky

ATOM Brands
Tunbridge Wells, UK

Brand Manager - Gin

ATOM Brands
Tunbridge Wells, UK

International Business Development Assistant

iDealwine
Paris, France with frequent trips to London office

Events Assistant

Speciality Drinks
London, UK

Sales Administrator

Les Caves de Pyrène
Guildford, UK

Pink Rosé Festival

Cannes,France
7th Feb 2018

VinoVision Paris

Paris,France
12th Feb 2018

Vinisud

Montpellier,France
18th Feb 2018
Click to view more

Champagne Masters 2017

The only Champagne blind tasting in the UK, the competition will reward the best wines in the following categories:

The Global Rosé Masters 2017

With wines from the palest of pink to almost ruby red, bone dry to almost cloyingly sweet, reductively handled to barrel-aged, as well as gently spritzy to fully sparkling.

Click to view more