Wine Spectator: Fine Wine Auction Sales Up 4.5% In 2014January 20, 2015
Reversing a two-year trend of declines, the fine-wine auction market saw a small upturn in 2014, as global sales rose 4.5%—from $337 million in 2013 to $352 million—according to figures released by the major commercial auction houses.
The year was remarkable for the strong performance of United States auctions, which surged, while Hong Kong sales totals declined from last year. Also notable was Burgundy’s unseating of Bordeaux in terms of overall market share. In 2014, U.S. sales totals increased by 26%, from $126 million last year to $159 million this year. Contributing to those revenues was the $11 million, two-part sale at Wally’s of uber-collector Roy Welland’s wines. A slightly weaker demand among buyers in Asia softened Hong Kong auction totals by 7%. Wine Spectator has the full story.
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