NEW YORK – Bloomsbury Auctions successfully entered the fast-growing wine auction market on June 19 with a competitive 17 percent buyer’s premium and a set of guarantees unmatched by any other wine auction house. The sale concluded with a solid 67 percent sell-through rate overall, with 100 percent of the champagne lots sold. Additionally, the sell-through rate for Bordeaux was 83 percent. The top lot, and 124 others, sold through LiveAuctioneers.com.
In keeping with Bloomsbury Auctions’ company mission to sell at every level of the market, auction buyers were attracted by an incredible selection of prized Bordeaux and Burgundy along with an eclectic mix of wines from single bottles to regions not typically found at auction.
LiveAuctioneers helped pop the virtual cork to initiate Bloomsbury’s exciting new department, with 125 lots selling online during the high-profile event. To no one’s surprise, the lot comprised of 12 bottles of 1989 Petrus, the Bordeaux blend described by wine connoisseur Robert Parker as “stunningly opulent, rich, full-bodied…exotic…remarkably youthful,” was in strong demand. A LiveAuctioneers bidder ultimately prevailed with a $28,680 bid.
Six 1.5-liter bottles of 1982 Chateau Lafite Rothschild – regarded as the modern-day equivalent of the vintner’s immortal 1959 vintage – were headed to another LiveAuctioneers bidder’s wine cellar, after a successful bid of $26,290 was lodged against the presale estimate of $15,000-$19,200.
Other top selling lots included:
• 12 bottles of 1995 Petrus which sold for $13,145 (Estimate: $10,800-$12,900)
• 12 bottles of 2003 Ausone which sold for $12,870 (Estimate: $10,800-$14,400)
“We are delighted with the results of our inaugural wine auction and believe we have made significant headway in changing the game in this market,” said Bernard Frelat, CEO Bloomsbury Auctions, New York. “With our attractive buyer’s premium, unique money-back guarantees and a broad choice of wines, auction buyers can truly build their cellars with confidence.”
“Only through Bloomsbury Auctions, do buyers have a full-cellar solution for both investment and consumption along with an unprecedented level of protection on their purchases,” added Dave Sokolin, president of Sokolin LLC, who handled the wine expertise and logistics for Bloomsbury Auctions.
Bloomsbury Auctions plans on holding several wine auctions per year, with its next specialty wine event scheduled for October 2009. Consignments will be accepted until July 31, 2009.
Click here to visit the online catalog, with prices realized, for Bloomsbury’s June 19 sale.