Sotheby's Latest Wine Auction Fetches Nearly $2.4 Million In Sales

Sotheby’s latest wine auction, “Icons Only | The Best of Burgundy & Bordeaux | A Single Owner Collection” closed today, selling 144 lots with a total of 1,206 bottles of wine. Total auction sales closed at $2,392,365 (GBP 1,834,939).

The auction’s total sales were 58% higher than the high-end estimate of $1,512,781(GBP 1,160,300) going into the sale.

The highest-priced lot was Chambertin 2005 Domaine Armand Rousseau, which sold in a 12-bottle lot for $89,635 (GBP 68,750). The lot sold for nearly 53% higher than the high end pre-sale estimate of $58,670.

The highest-priced bottle sold was Montrachet 2010 Bouchard Père et Fils, which sold in a single-bottle lot for $7,822 (GBP 6,000), closing at the high end of its pre-sale estimate.

The wines all came from a single collector, who originally purchased the bottles from a very select group of prestigious and reputable merchants in Europe.

Jamie Ritchie, Worldwide Chairman of Sotheby’s Wine, said on the auction website, "This wonderful selection of wines comes from a much larger collection, that has been assembled with a focus on quality and provenance, by a truly knowledgeable, passionate and curious wine lover. He is an incredibly generous host and we have enjoyed many dinners together, in many different locations. He has no hesitation in serving and enjoying the best bottles in the cellar, always comparing different wines and vintages, though never in a pretentious way - the wines are there to be enjoyed and the guests are as fun and as important as the wines. He recently realized that, even if he drastically ratcheted up his consumption, he would never be able to enjoy all the bottles that he has acquired, so he decided that it is time to let others enjoy them."

Sotheby’s currently has another wine auction taking place online, “Clos de Vougeot for Abbaye de Cîteaux | with Ex-Domaine Treasures From Burgundy’s Top Estates” that will close on April 23, 2022.

See also: How Serial Entrepreneur Anthony Zhang Went From Nearly Dying To Creating Vinovest, One Of The Most Successful Wine Investing Platforms In The World

Photo: Courtesy of Sotheby's