Year in Review: Zachys Wine Auctions Generates 65.7M Internationally in 2016
White Plains, NY (PRWEB) January 13, 2017 -- Zachys Wine Auctions (http://www.zachys.com/auctions), international auction house and purveyor of fine and rare wines, released its annual Year in Review for 2016. Zachys sold an international total of $65,698,954 in 2016, an 18 percent growth from the US$55.5M sold last year. 2014-2015 saw a 22 percent increase in auction sales, two years of consecutive double-digit growth.
Zachys owes part of this success to the exceptional single owner collections auctioned in 2016. Collections included those of Tawfiq Khoury and Bob Dickinson, Nath. Johnston & Fils, and the four-auction single-cellar “The Vault,” which featured one of the most treasured single-owner collections in the world. The sale realized over US$12,000,000 and was sold half in New York, half in Hong Kong. Zachys already has single owners lined up for 2017, one of the most exciting being “Part II” of the collection of one of the world’s great Burgundy collectors, Dr. Rob Caine, to be sold in Zachys’ March auction at La Paulée de New York on March 9 and 10.
Zachys' live auctions realized $34.8M in the US, and $21.9M in Hong Kong. These values represent a 12 percent and 18 percent growth, respectively, in the two regions. All of Zachys live sales saw excellent sell-thru rates (an average of 99 percent globally), and strong prices. Zachys also reports a 30 percent increase in the number of registered bidders to over 12,000. Zachys’ 2016 top lot was a case of DRC 1990 that realized $205,484 during the Hong Kong New Year Auction. A complete list of the top lots is outlined below.
Expanding global reach, Zachys Specialists visited over 50 cities across the globe in 2016. In addition to Europe, the Hong Kong-based team was exceedingly active in 2016, both selling and sourcing. This year, 31 percent of buyers by value were from “Other Asia,” meaning other than Hong Kong. What’s more, Zachys has long understood the importance of South America and Canada to auctions, and with Managing Director Jamie Pollack’s frequent visits to Brazil, there has been an uptick in participation.
Zachys President Jeff Zacharia remarks, “I couldn’t be more pleased with 2016. We saw growth across the board—in our live auctions in both Hong Kong and the United States, and in our eAuctions. We sent a specialist semi-permanently to Europe, to tackle that market—with more international growth to be announced in 2017. We continued our partnership with Daniel Johnnes’ La Paulée and will do so again in 2017—as well as new partnerships with La Fête du Champagne and Burdigala. We did this all while remaining true to our core values of customer service and above all, a deep passion for fine wine! I want to thank my entire team for their contributions in 2016 and of course our consignors, bidders, and friends. Here’s to a happy and successful 2017!”
A full copy of Zachys’ 2016 Year in Review is available for download here.
Top Lots of 2016
Lot 306: 12 bottles of Romanée Conti Domaine de la Romanée Conti 1990
Price Realized: $205,484
The Hong Kong New Year Auction (January 2016, Hong Kong)
Lot 3258: 12 bottles of Pétrus 1961
Price Realized: $140,875
Fine Wines & Spirits (September 2016, US)
Lot 99: 1 methuselah of Romanée Conti Domaine de la Romanée Conti 1985
Price Realized: $118,548
Fine and Rare Wines and Spirits (May 2016, Hong Kong)
Lot 449: 1 700ml bottle of Karuizawa The Dragon 52 Year Old Cask #5627 Single Cask 1960
Price Realized: $110,646
Fine and Rare Wines and Spirits (May 2016, Hong Kong)
Lot 1226: 12 bottles of Le Pin 1982
Price Realized: $110,646
Fine and Rare Wines and Spirits (May 2016, Hong Kong)
Lot 853: 1 imperial of Château Latour 1961
Price Realized: $91,875
The Vault Part II (October 2016 , US)
Lot 1337: 6 magnums of Bonnes Mares Vieilles Vignes Georges Roumier 1988
Price Realized: $91,875
The Vault Part II (October 2016 , US)
Lot 343: 12 bottles of Vosne Romanée Cros Parantoux Reserve Henri Jayer 1999
Price Realized: $85,750
Fine and Rare Wines at La Paulée de San Francisco (March 2016, US)
Lot 100: 1 methuselah of Romanée Conti Domaine de la Romanée Conti 2001
Price Realized: $75,870
Fine and Rare Wines and Spirits (May 2016, Hong Kong)
About Zachys
Zachys is a third-generation family-owned business based in Scarsdale, New York, whose holdings include Zachys wine auctions in the U.S. and in Hong Kong, Zachys Wine and Liquor and New York Fine Wine Storage.
Charles Antin, Zachys Wine Auctions, http://www.zachys.com/auction, +1 917.232.4997, [email protected]
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