Acker's fine wine auctions bring a $110m total to a record-breaking 2011

paulfrasercollectibles

2015-06-26 12:41:01

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Acker's fine wine auctions bring a $110m total to a record-breaking 2011

2011 has been a great year for fine wine markets, with records made by Acker, Merrall and Condit

Acker, Merrall and Condit have posted their final totals for their 2011 wine sales - and what a year it has been.

As we mentioned, the auctioneer sold the most expensive lot of the year with their extraordinary Domaine de la Romane-Conti vertical which brought $813,333 in an auction which took them over the $100m sales mark for the year.

They've since had one more auction: a 95% sold, $3.1M+ sale held at Marea this past weekend in New York City, bringing their overall total to $110,454,801 worldwide.

In 2011, Acker Merrall & Condit Companies conducted sixteen live auctions in New York, Hong Kong and for the first time ever, in Chicago. Particularly robust performances were recorded in Asia where live sales totaled US$68,835,590, representing an 8.5% growth from 2010.

John Kapon auction blockAcker's John Kapon in action at the auction block

In New York, $29,817,513 was achieved for live sales, marking a 6.5% increase, while the internet auction fetched US$8,243,995, an 18.5% increase from the previous year. Chicago also made its way onto the Acker scene with a welcome $3,557,703.00 of sales, achieved in just one auction.

Total wine auctioned off in the USA was therefore US$41,619,211 for 2011, representing a healthy 19% overall gain domestically.

John Kapon, Acker Merrall & Condit's CEO, said:

"I am proud that Acker Merrall & Condit continues to set the standard for the entire wine auction industry with our remarkable achievements in 2011, contributing significantly to the growth of the global wine marketplace.

"The magnitude of all we've achieved hasn't quite sunk in. And, in a sense, it may never, as 2012 is already upon us. We live for the moment and for the future, and while we will celebrate the year that we have had, we realise there is still much to do."

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