Bonhams
Bonhams announces record-breaking wine sale results on both sides of the atlantic – sale totals up 45% from 2005.

Bonhams in London and Bonhams & Butterfields, Bonhams’ branch on the American West Coast, have been celebrating after breaking records with their most successful sales of Fine Wine to date. Bonhams & Butterfields’ Sale of Fine and Rare Wines, including the Harvey Buchbinder collection from the Marin Wine Cellar, on 28 – 29 July fetched more than $2.4 million, and Bonhams’ London sale on 28 June bought in nearly half a million pounds – the best ever wine sales for the fastest growing auction house in the world.

Buying wine at auction has traditionally been a market for collectors, but they are now joined by a new group who are buying wine as an alternative investment, Ever greater numbers of people, many from new markets, are bidding at auction and, as a result, push up prices of the top wines from the best vintages.

These recent successes have encouraged Richard Harvey MW, Bonhams’ newly-appointed European Head of Wine. “Such resounding success on both sides of the Atlantic cement Bonhams and Bonhams & Butterfields’ increasing role as a market leader in wine sales,” he explains. “It is an exciting time to be part of an organisation that goes from strength to strength – with our sales total in London up 45% on the first six months of 2005, we are looking forward to many more exciting developments and sales.”

The first sale of Fine Wine this autumn at 101 New Bond Street, London on 27 September will feature a range of vintages from Chateau Cantenac-Brown, including many large format bottles, to be shipped direct from the chateau. Bonhams is also introducing a new Sale of Fine and Everyday Wines at Knightsbridge on 18 October and the final sale of 2006 at 101 New Bond Street will feature a superb collection of Scotch Whisky.

Bonhams’ UK Wine Department is a key member of an international organisation which includes Bonhams and Butterfields in the USA. Both offices offer free advice on buying and selling wines at auction and provide insurance and probate valuations. Holding six sales a year in London and between six and eight in San Francisco and LA, Bonhams offer a wide selection of rare European and highly-collectible Californian wines.

Posted: 08|4|06 at 9:44 am. Filed under: UK News.