Sotheby’s sees fine wine and spirits sales rise 12%
Auction house Sotheby’s has hailed the “resilience” of the global fine wine and spirits market after annual sales hit US$127.5 million in 2025, up nearly 12% on the previous year.
The total, which includes auction and private sales, is the fourth largest since the company’s wine and spirits department was established in 1970, falling short only of 2023 (US$159m), 2022 (US$150m) and 2021 (US$132m). Sales have more than doubled over the past decade from 2015’s total of US$47m.
Sotheby’s highlighted the number of single-owner sales during 2025, which accounted for nearly half of the 69 auctions organised across eight selling centres. The company said 35% of buyers were new to Sotheby’s, from a record 63 different countries. Buyers were evenly distributed across the major buying regions, with 34% coming from EMEA, 33% from the Americas and 32% from Asia.
Nick Pegna, global head of Sotheby’s Wine & Spirits, said last year’s sales total reflected the “resilience” of the global fine wine and spirits market, following a difficult 2024 when the company’s auction sales plummeted by nearly 30%.
Pegna added: “This success has been driven by a truly international buyer base, strong growth in new collectors, and our depth of expertise in presenting landmark single-owner collections.” He also expressed his delight that Sotheby’s had extended its partnership with the Hospices Civils de Beaune in organising the annual Hospices de Beaune charity wine auction through to 2030.
Europe was Sotheby’s best-performing region last year, with revenues reaching a total of US$56.7m, split between US$35.4m in France and US$21.3m in the UK – a performance which the auction house said “reaffirmed its position as the market leader”.
The US achieved a total of US$37.3m, and New York outperformed Hong Kong as the company’s top selling location for the second consecutive year, reporting its second-highest sales total to date. Sales in Asia reached US$33.5m.
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“At the same time, we expanded our sales operations into Japan and Switzerland through the establishment of dedicated, full-time local teams and a permanent physical presence in both markets, strengthening our global footprint and client proximity,” Sotheby’s said.
Wine dominates
By category, sales were dominated by wine, which totalled US$106m, versus US$21.5m for spirits. However, spirits accounted for four out of the top 10 highest-grossing lots during the year, and the most valuable individual lot for the sixth year running: The Glenlivet Spira 60 Year Old 1965, a 1.5-litre bottle that sold for £650,000 (US$864,825) during The Distillers One of One charity auction at Hopetoun House, near Edinburgh, in October.
Sotheby’s hailed the success of the biennial sale, during which 39 ultra-rare Scotch whiskies went under the hammer, raising a total of £2.9m (US$3.9m) for charity (hammer total £2.3m (US$3.1m)).
The company also highlighted its ongoing stewardship of the annual Hospices de Beaune wine auction. November’s sale raised a total of €18.8m (US$21.8m), the third highest amount in the auction’s history. The year also saw the first Hospices de Beaune wine dinners organised in Bangkok and Jakarta.
Meanwhile, Sotheby’s partnership with Napa Valley Vintners (NVV) and Collective Napa Valley (CNV) encompassed a series of four auctions during 2025, held in Napa and online, with receipts totalling US$7.9m, up 13% on 2024.
Partnerships with leading whisky distilleries also played a role in Sotheby’s rising sales last year. One-off collaborations with Bowmore, The Glenlivet, Macallan and Dalmore netted a combined total of more than US$375,000, the auction house said.
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