In 2012 Third Quarter, Wine Spectator Auction Index Falls Again
October 18, 2012The Wine Spectator Auction Index, which tracks sales at fine wine auctions in the United States, fell nearly 3% in the third quarter of 2012, the sixth consecutive quarter that the index has registered a decline, albeit a modest one.
Since spring 2011, a flight from first-growth Bordeaux to lesser growths and premium Burgundies has caused global auction markets to tumble. In the third quarter of 2012, the index dropped from 315.54 points to 306.50 points. Domestically, six auctions comprising 7,578 lots went on the block for an aggregate value of $17.4 million, down 11% from the third quarter of 2011. The average price per lot in third-quarter 2012 was $2,300, compared to $3,616 in 2011.
In Hong Kong, the story was similar. Third-quarter 2012 sales totaled $20 million compared to $35 million in the third quarter of 2011. The average price per lot in the third quarter was $6,713, down from $7,965 in 2011. Despite this drop, Hong Kong has retaken its position as the world wine auction capital, a title it briefly surrendered to the U.S. in the second quarter of 2012.
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