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Zachys flash auction goes over estimate
New York auction house Zachys has hailed what it claims is the world’s first ever fine wine “flash auction” after total sales exceeded the high estimate.
The auction, which was open for only five hours from 7am eastern time on Thursday (5 November), saw bids rush in on nine lots of Domaine de la Romanée-Conti.
The nine lots, consisting of a total of 12 bottles, reached $17,885 (£11,865) – just above the high estimate.
“Once again, Zachys proves to be at the forefront in offering innovative ways to auction wines,” the house said in a statement.
Jeff Zacharia, President of Zachys, commented: “We are thrilled with the success of our first flash auction. Zachys has consistently been an industry leader, offering groundbreaking ways to buy and sell wine with a focus on elite service, one of the many reasons our clients come back to us time and time again.”