HDH takes number one spot in US

11th July, 2014 by Rupert Millar

Auction house Hart Davis Hart has taken the number one position in the US as the first half of the year draws to a close.

auction-hammerOf the eight major auction houses operating in the US, HDH took 33.6% of the market share in the year to date, with Acker Merrall & Condit being the next closest with a 19.7% share.

The house closed the first part of the year having made US$24.7 million, compared to $20m in the same period last year.

HDH cited an “increased global demand for…wines” and noted the strengthening market in the US which has seen a 22.2% jump so far this year which has also caused the US to overhaul Hong Kong and regain its place as the world’s leading auction market.

S73.3m has been made at US auctions so far this year compared to HK$60.1m in the Asian city.

Burgundy was the leading category with 50.1% of sales worth $571m. it is the first time that Burgundy has been the leading category and while it may just be an “aberration” as two of the four auctions have been Burgundy dominated, it nevertheless reflects “the importance of Burgundy in the market.”

Bordeaux accounted for 31.2% of sales worth $350m, California 8% worth $296m and Champagne 3.3% worth $596m (which makes it the most valuable category despite its small size).

HDH explained: “Prices for Champagne were extremely high this year, selling at an average price of $596 per 750ml. Some of this strength can be attributed to our cellar-direct sales including a consignment from Dom Pérignon in March of this year. This parcel featured 31 lots of older vintages in regular and magnum formats that were sold for more than $275,000.”

CEO Paul Hart said: “Our relationships with top collectors globally have enabled us to bring together a worldwide network of buyers. As a result of continued growth and interest, HDH has made investments abroad and spread its team across the globe. We have continued to meet face-to-face with clients for tastings, dinners and seminars on wine. From Los Angeles to New York, China to Brazil, our team has dedicated time and effort to meet with collectors and understand their needs. The direct result of this effort is that our sales have diversified internationally, with more than one-third of auction sales going to Asia, Latin America and Europe.”

Leave a Reply

Your email address will not be published.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

Subscribe to our newsletters

Job vacancies

Brand Ambassador – Santa Rita Estates

Santa Rita Estates
London or Hertfordshire but with flexibility to travel, UK

Sales Executive - Wine and Spirits Awards

The Drinks Business
Central London, UK

On-Trade Channel Manager

Delegat Europe Limited (UK)
London / Midlands, GB

Trade Marketing Analyst

Delegat Europe (UK)
London, GB

Key Account Executive

Delegat Europe Limited (UK)
London / Midlands, GB

Senior National Account Manager

Conviviality
London, UK

ON-TRADE Sales Executive

Roberson Wine
London, UK

OFF-TRADE Sales Executive

Roberson Wine
London, UK

Judging Week Runners

Decanter World Wine Awards
ExCel Centre, London E16, UK

Sales Administrator

Les Caves de Pyrène
Guildford, UK

Retail Commercial Executive

Laithwaite's Wine
Theale, Berkshire

Wine Buyer

Conviviality Plc
Crewe, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Sales Account Manager - On-Trade

Berkmann Wine Cellars
M3/M4 corridor

Media Sales Manager - Hong Kong

The Drinks Business Hong Kong
Hong Kong

The Global Merlot Masters 2017

Deadline : 31st March 2017

The Prosecco Masters 2017

Deadline : 10th March 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 3rd March 2017

Click to view more

The Global Sparkling Masters

the drinks business is thrilled to announce the launch of The Global Sparkling Masters

The Global Rosé Masters 2016

the drinks business is proud to announce the launch of the Global Rosé Masters 2016.

The Prosecco Masters 2016

Now in its third year, the competition will reflect the growth in popularity of this fresh and exciting sparkling wine from the picturesque regions of Veneto and Friuli.

The Global Pinot Noir Masters 2016

After the success of last year’s competition that judged over 250 wines from no less than 16 countries, the drinks business is proud to announce the third year of the Global Pinot Noir Masters

Click to view more