Sotheby's Dominates Global Wine Auctions In 2016

NEW YORK, Dec. 15, 2016 /PRNewswire/ -- Today Sotheby's announces global wine auction sales for 2016 of $72,806,516, a 21% increase on the 2015 figure of $60.4 million.

Jamie Ritchie, Worldwide Head of Sotheby's Wine, commented: "With a 20% increase in auction sales to $73m, we significantly outperformed the market. Our ability to source the world's great wines, and expand the fine-wine collector base by bringing in new clients on a global basis, is unparalleled. The market for rare wines that are ready to drink continues to be very strong, while younger wines are maintaining their prices and reasonably stable. We expect strong demand to continue in 2017 and look forward to announcing a strong series of sales."

Auction Sales

Sotheby's Wine Market Report offering an in-depth analysis of the market will be published mid-January.

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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in eight different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

*Estimates do not include buyer's premium and prices achieved include the hammer price plus buyer's premium.

New York  |  +1 212 606 7176  | Dan Abernethy | [email protected]  

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SOURCE Sotheby's