21 Dec Wrap up 2023 & Welcome 2024
As we bid farewell to another remarkable year at The Wine Auction Room, it is with great pleasure that we present our end-of-year sales review for the period spanning January to December 2023. The past twelve months have been marked by exceptional growth, unwavering enthusiasm from our community, and great results for our bidders and vendors.
Regions that you covet:
The demand for wines from certain regions has been nothing short of extraordinary. Topping the list are Bordeaux, Burgundy, and Napa Valley, with enthusiasts engaging in fierce and competitive bidding wars to secure these coveted bottles. The allure of these iconic regions has continued to captivate the attention of collectors and investors alike.
Wines you kept coming back for:
In 2023, the title of the most purchased wine goes to the illustrious Burgundy wines, with Pinot Noir and Chardonnay leading the way. The inherent complexity and finesse of Burgundian wines have proven to be irresistible to our discerning clientele. Additionally, there has been a notable surge in the popularity of Italian wines, particularly those hailing from Piedmont and Tuscany and echoing trends we’re seeing in global secondary markets for wine.
When the paddle stayed raised:
The auction room witnessed some spectacular moments as bidders vied for the most exceptional bottles, resulting in record-breaking prices. Notably, rare and aged vintages from renowned estates such as Château Lafite Rothschild, Domaine de la Romanée-Conti, and Screaming Eagle commanded unprecedented prices, underscoring the enduring appeal of these iconic labels.
Comparison to Global Secondary Wine Markets:
The Wine Auction Room’s 2023 sales results have reinforced our position as a strong player in the global secondary wine market. Our platform’s vibrancy and the diversity of our curated auctions have attracted participants from around the world. The competitive spirit and price realisation achieved at our auctions consistently stand out when compared to broader industry trends, establishing The Wine Auction Room as a benchmark for excellence in the secondary wine market. This is aided by our consistent auction calendar, published in advance to help you manage your schedule and investment strategy..
Reflecting on the achievements of 2023, we express our heartfelt gratitude to our dedicated community of bidders, sellers, and wine enthusiasts. Your passion and commitment have been instrumental in making this year a resounding success. Looking ahead to 2024, we are excited to continue our journey of bringing exceptional wines to oenophiles worldwide and setting new standards for excellence in the world of wine auctions. We look forward to seeing you over the break with our new year online auction, and then again in the sale room for our first Live auction for 2024 (February 13 from 6.30pm at Caro’s Grey Lynn – and streamed online). Remember, market dynamics can change, and wine investment trends can vary over time. To get the most accurate and up-to-date comparison, it’s advisable to consult the latest auction reports that we publish monthly, along with your own market analyses or seek the assistance of our wine team who are always happy to share their observations and experience.
Cheers to a prosperous and vinous new year!
The Wine Auction Room