Sotheby’s wine and spirits auctions hit US$159 million in 2023, the third year in a row it has hit a new high, the auction house reported. 2023 also saw a 17% increase in the number of lots offered year-on-year, with the number of auctions held worldwide up for the fourth year in a row, doubling the pre-pandemic levels. Auctions were held in six countries – with inaugural auctions held in Shanghai and Singapore during the year, while Sotheby’s attracted bidders from 53 countries. More than $100 million was raised from single-owner sales for the first time, the auction house said in its annual report, which highlights including the first sale of the The Epicurean’s Atlas: The Encyclopaedic Cellar (Hong Kong, $16.8 million) A Monumental Cellar (New York, $9.3 million), Kodawari, The Greatest Japanese Whisky Collection (London, $2.2 million) and Iconic Wines from a Prestigious French Cellar (France, $2.5 million). As Nick Pegna, global head of Sotheby’s wine & spirits noted, “We sold as many wines & spirits by value in one extraordinary week in 2023, as the whole of 2013.” This record-breaking week took place in November, with $50 million raised in auctions held in three different regions, and included the most expensive bottle of spirit or wine ever sold at auction, The Macallan 1926, featuring the Valerio Adami label, which raised $2.7 million. Demand and diversification According to the data, buyers from the US were the strongest bidders in auction, accounting for 23% of successful bidders (and with a sharp
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