Reflecting both the growing worldwide interest in fine wine and the rebounding global economy, pre-eminent wine merchant Acker Merrall & Condit said that sales at its March internet wine auction topped $1 million. This is the firm's second consecutive monthly internet auction to generate $1 million or more in sales.
America's oldest wine merchant - and the leader in fine and rare wine auctions worldwide - Acker Merrall & Condit also noted that its live and internet auctions have sold a total of $18.3 million year-to-date, positioning the firm for another record year. The house's previous record in 2010, which is also the high for any wine auction house, was $98.5 million on the gross between all of the company's global affiliates.
"The trend in the wine collecting market was robust in 2010 and is on track for another strong year in 2011," said John Kapon, Acker Merrall's President and Auction Director. "New enthusiasts are taking advantage of the convenience of the internet to build their cellars. Our own growth momentum reflects Acker Merrall's standing as the world's premier, trusted source of fine wines, as well as our commitment to offering wine lovers the means to pursue their wine collecting passion."
Mr. Kapon continued, "As the Internet is playing an increasingly vital role in the fine wine market every year, we are looking forward to re-launching our website in late 2011 and reaffirming our position as market leader."
Acker Merrall's next live auction in New York City will take place on March 19, 2011, at Marea, the Company's exclusive New York City wine auction partner and one of New York's premier dining institutions. The star attraction of the upcoming auction will be an exceptional collection of wines from Domaine de la Romanee-Conti, including many in original wood cases.
Acker Merrall has thirteen other live auctions planned for Hong Kong and New York later this year, further demonstrating its commitment to bring extraordinary wines to a discerning global clientele. About Acker Merrall & Condit Founded in 1820, Acker Merrall & Condit is America's oldest fine wine merchant and the world's largest wine auction house. Operating in New York and Hong Kong, Acker hosts live and internet auctions every month, and conducts retail operations as well. The companies are devoted to helping its customers buy and sell the best wines, and also to sharing with them the experience of enjoying wine. In recent years, services have greatly expanded through affiliated companies to education, tastings, wine clubs and storage. Starting out as a family business, three generations of the Kapon family have been dedicated to bringing the best from the vine to their customers.
Keywords: Acker Merrall & Condit, Asia, China, Hong Kong.
This article was prepared by Economics Week editors from staff and other reports. Copyright 2011, Economics Week via VerticalNews.com.
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