Christie's online wine auction breaks new ground
Christie's first exclusively online auction will feature 301 lots of investment-grade wine in August
Paul Fraser Collectibles, Monday 25 June 2012
Christie's first exclusively online auction will take place in August, and investment-grade wine will be the commodity going under the hammer.
A 1982 Chateau Lafite-Rothschild Bordeaux, estimated at $35,000-45,000, will be the star attraction of the 301 lots on offer at the Signature Cellars sale, which runs from August 6-20, reports Bloomberg.
An original wooden case (OWC) 2000 Chateau Lafite-Rothschild, valued at $20,000-30,000, will also feature, while an OWC 2000 Chateau Cheval-Blanc Bordeaux will come to auction with a $7,000-10,000.
The new departure for Christie's is evidence of its desire to spice things up during August, a month when the majority of major auction houses head to the beach.
It is also confirmation of the importance that internet bidders play in the world's major auctions, as Steven Murphy, Christie's chief executive officer, told the publication.
"Taking the experience of auction online has become an imperative," he said.
"Our clients in all age categories, all wealth categories and all interest categories are communicating with us online on a daily basis."
The auction, derived from three private collections, has a high estimate of $1m.
Christie's expects to offer further exclusively online sales in art and watches in the near future.
29% of bids at Christie's were placed online last year, while internet sales were up 46% from 2008 to $130m in 2011.
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