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Mid-Year Market Report 2020

The first seven months of 2020 presented many challenges for everyone, as we all transitioned our lives and businesses to accommodate what was (and remains) an exceptional situation that affected everyone around the world and shut us down in a way that no one could have imagined.

During this time, we have undergone a massively accelerated digital transformation that, through the innovation and the dedication of the Sotheby’s worldwide team, resulted in sales of $45 million of wine and spirits in 17 auctions, including five Single-Owner collections.

Our Mid-Year Wine & Spirits Market Report 2020 includes a comprehensive review and analysis of our global auction sales, featuring the most interesting developments in our business and illustrating how digital innovation is driving demand from new buyers.

FOR BUYERS:

This report shows the stability of the overall market, while indicating the categories and regions where demand is very strong and also highlighting areas of value and opportunity.

FOR SELLERS:

You can see that the market and pricing has not changed throughout this COVID period, with continued strong demand, particularly for top Burgundy and Whisky. 

KEY TAKEAWAYS FROM OUR REPORT:

• $45 million sold, $24 million sold online

• Hong Kong sale series is 3rd highest ever

• Bidders from more than 40 countries

• 67% wine lots bought online, 83% spirits lots bought online

• 50% of bidders in Hong Kong sales & 50% of first time bidders worldwide are under 40

• 20% of all bidders are new to Sotheby’s

• DRC continues to be a dominant #1 in wine sales

• The Macallan continues to be a dominant #1 in spirits sales

• Burgundy & Spirits increase market share

We hope you enjoy our analysis and please do not hesitate to ask us for advice about the market, whether you are interested in buying or selling.

 

Jamie Ritchie

Worldwide Head