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Sotheby's global wine sales top US$88 million
Source: Agencies |
December 21, 2010, Tuesday
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SOTHEBY'S global wine sales top US$88 million
Sotheby's auctioned more than US$88 million worth of fine wines in 2010, twice the amount it sold in 2009, the company reported yesterday.
While sales were up in both New York and London but the lion's share of the increase came from the Asia market where sales rose 265 percent year on year.
Hong Kong sales grew to more than US$52 million in 2010 from US$14.3 million a year earlier.
"This has been a landmark year for Sotheby's Wine. We achieved our largest ever total (of sales)," Serena Sutcliffe, worldwide head of wine at Sotheby's, said in a statement.
The October sale in Hong Kong of top growth wines directly from the cellars of the Chateau Lafite Rothschild set a new record for a single, standard-size bottle when a 1869 Bordeaux was sold for US$232,692, Sotheby's said.
Its report was the latest from the auction houses, all of which said sales approached or surpassed the pre-recession levels of 2007.
Christie's reported global wine sales topping US$71 million for 2010, up from US$50.4 million in 2009.
Chicago-based Hart Davis Hart reported its yearly wine auction sales totaled US$39.2 million, a 63 percent increase over 2009.
New York-headquartered Zachy's Wine Auctions, which also holds sales in Hong Kong, said it sold US$56.5 million worth of wines.
Sotheby's auctioned more than US$88 million worth of fine wines in 2010, twice the amount it sold in 2009, the company reported yesterday.
While sales were up in both New York and London but the lion's share of the increase came from the Asia market where sales rose 265 percent year on year.
Hong Kong sales grew to more than US$52 million in 2010 from US$14.3 million a year earlier.
"This has been a landmark year for Sotheby's Wine. We achieved our largest ever total (of sales)," Serena Sutcliffe, worldwide head of wine at Sotheby's, said in a statement.
The October sale in Hong Kong of top growth wines directly from the cellars of the Chateau Lafite Rothschild set a new record for a single, standard-size bottle when a 1869 Bordeaux was sold for US$232,692, Sotheby's said.
Its report was the latest from the auction houses, all of which said sales approached or surpassed the pre-recession levels of 2007.
Christie's reported global wine sales topping US$71 million for 2010, up from US$50.4 million in 2009.
Chicago-based Hart Davis Hart reported its yearly wine auction sales totaled US$39.2 million, a 63 percent increase over 2009.
New York-headquartered Zachy's Wine Auctions, which also holds sales in Hong Kong, said it sold US$56.5 million worth of wines.
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