Berry Bros & Rudd’s First Auction Surpasses £500,000

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Berry Bros & Rudd's online wine auction saw 575 lots sell for £534,925, showcasing a growing demand for fine wines and setting the stage for future events.

The Rise of Online Wine Auctions

The world of fine wine is evolving rapidly. Recently, Berry Bros & Rudd, the UK’s oldest fine wine and spirits merchant, ventured into online wine auctions. This move marks a significant shift in how wine enthusiasts can acquire rare bottles.

The inaugural auction featured a prestigious collection from Ian Mill KC, a renowned barrister. With 575 lots available, the auction attracted bids from over 40 countries. Remarkably, it achieved a 100% sell-through rate, totaling £534,925 in sales.

Geordie Willis, director of new ventures for BB&R, expressed excitement about the response. He noted that both new and returning customers showed great interest. This successful launch sets a promising precedent for future auctions, with plans already in place for the next event next year.

Highlights from the Auction

The auction showcased a diverse range of wines, starting with vintage champagne. The first 115 lots sold for a combined £97,125, averaging £844.57 per lot. Notably, single bottles of Dom Pérignon Oenothèque from 1964 and 1969 each fetched £2,200.

Following the Champagne, Bordeaux wines were next on the block. Twenty-four lots sold for a total of £23,320, including a bottle of 1989 Château Haut-Brion Blanc that reached £2,000.

Burgundy wines dominated the auction, with 136 lots selling for a combined £199,420. A standout was a magnum of 1969 Clos de la Roche, which sold for £7,500, significantly exceeding its high estimate. This trend of exceeding expectations continued throughout the auction, showcasing the growing interest in fine wines.

The Future of Wine Auctions

The success of this auction indicates a bright future for online wine sales. Ian Mill KC praised BB&R’s professionalism and commitment, reinforcing the trust in their auction platform. The positive feedback from both sellers and buyers suggests that this venture is well-received.

Moreover, the auction’s results reveal a growing appetite for fine wines. With 27% of lots selling at or above their high estimates, the market is thriving. The average hammer price exceeded 120% of the reserve, indicating strong demand.

As the online auction landscape continues to evolve, Berry Bros & Rudd is poised to become a key player. Their innovative approach and commitment to quality will likely attract more collectors and enthusiasts. The next auction promises to build on this success, further solidifying their position in the fine wine market.

Photo by Library of Congress on Unsplash

Source: Decanter – Berry Bros & Rudd’s inaugural auction exceeds £500,000