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The heart of the wine world welcomes Sotheby’s
The capital of the wine world will finally have a spot on the docket at one of the most luxurious international auction houses. Last week, Sotheby’s announced that it will begin hosting regular wine and spirit auctions in France. The new auctions, which will take place in Bordeaux and Burgundy, will be Sotheby’s fourth international auction hub for wine.
Not only is the decision to open a new auction location a reflection of increasing wine connoisseurship, but it also comes on the tails of the COVID-19 pandemic. Alcohol sales soared over the past year, and it’s no coincidence that people in lockdown became wine fanatics. Across the world the alcohol industry has boomed in unprecedented ways, reflecting an increase in consumerism and appreciation.
If you need a third-party expert to comment on the announcement from Sotheby’s and the greater alcohol industry, Torrey Grant is an expert on fine wine. Grant is an adjunct professor of wine studies and author of Sharing The Grape: A Trip Around The Wine World. You can see examples of his commentary here, and you always reach out to him directly at email@example.com.
“The last 18 months have changed the face of the wine industry in many ways. So much so that figuring out which changes were “good” or “bad” may still be a way off,” said Grant. “The online wine auction segment of the industry saw growth in 2020 as well as the fine wine market overall. With consumers that did not see financial hardship in 2020, but who saw limited outlets for spending (no travel, dining out etc.) fine wine purchasing became a passion.”
“Sotheby’s decision to finally open an auction house in France is well timed,” Grant said, as “moving to Bordeaux seems as natural as any industry move in a long time, since 85% of their wine value comes from France. Yet, it also seems way overdue.”
“In addition, to many collectors Burgundy and Bordeaux represent the heart of the wine world and quite possibly the bulk of their collection and it seems destined for great success,” Grant said.
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