Wine Spectator Auction Index Shows Healthy Increase In First Quarter Of 2014April 18, 2014
The Wine Spectator Auction Index, which tracks sales of commercial wine auctions in the United States, rose 6.7% in the first quarter of 2014, to 339.94 points. This represents the index’s largest quarterly increase in the past three years. “It seems that buyers and consignors are more confident and more active,” said Paul Hart, CEO of this quarter’s global leader, Hart Davis Hart, which recorded $12.6 million in sales.
So far, 2014 looks to be a banner year, added John Kapon, CEO of Acker, Merrall & Condit. “Burgundy remains the lead story of 2014, but Italy, California, Champagne and Spain have also seen gains,” he said, noting that Bordeaux “remains a firm anchor in all markets,” but especially in Hong Kong.
The rise in U.S. sales can be attributed to a larger volume of lots. This quarter, 10,496 lots tracked by the Auction Index went on the block for a total value of $34.1 million—that’s 46% higher than in the first quarter of 2013, when 7,147 tracked lots totaled $23.4 million. The sell-through rate, at 98%, and average price per lot, at $3,252, were roughly the same as this time last year.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.