2016 Year In Review: Zachys Generates 65.7M

Zachys Wine Auctions (http://www.zachys.com/auctions), international auction house and purveyor of fine and rare wines, released its annual Year in Review for 2016. Zachys sold an international total of $65,698,954 in 2016, an 18 percent growth from the US$55.5M sold last year. 2014-2015 saw a 22 percent increase in auction sales, two years of consecutive double-digit growth.

Zachys owes part of this success to the exceptional single owner collections auctioned in 2016. Collections included those of Tawfiq Khoury and Bob Dickinson, Nath. Johnston & Fils, and the four-auction single-cellar “The Vault,” which featured one of the most treasured single-owner collections in the world. The sale realized over US$12,000,000 and was sold half in New York, half in Hong Kong. Zachys already has single owners lined up for 2017, one of the most exciting being “Part II” of the collection of one of the world’s great Burgundy collectors, Dr. Rob Caine, to be sold in Zachys’ March auction at La Paulée de New York on March 9 and 10.

Zachys' live auctions realized $34.8M in the US, and $21.9M in Hong Kong. These values represent a 12 percent and 18 percent growth, respectively, in the two regions. All of Zachys live sales saw excellent sell-thru rates (an average of 99 percent globally), and strong prices. Zachys also reports a 30 percent increase in the number of registered bidders to over 12,000. Zachys’ 2016 top lot was a case of DRC 1990 that realized $205,484 during the Hong Kong New Year Auction. A complete list of the top lots is outlined below.

Expanding global reach, Zachys Specialists visited over 50 cities across the globe in 2016. In addition to Europe, the Hong Kong-based team was exceedingly active in 2016, both selling and sourcing. This year, 31 percent of buyers by value were from “Other Asia,” meaning other than Hong Kong. What’s more, Zachys has long understood the importance of South America and Canada to auctions, and with Managing Director Jamie Pollack’s frequent visits to Brazil, there has been an uptick in participation.

Zachys President Jeff Zacharia remarks, “I couldn’t be more pleased with 2016. We saw growth across the board—in our live auctions in both Hong Kong and the United States, and in our eAuctions. We sent a specialist semi-permanently to Europe, to tackle that market—with more international growth to be announced in 2017. We continued our partnership with Daniel Johnnes’ La Paulée and will do so again in 2017—as well as new partnerships with La Fête du Champagne and Burdigala. We did this all while remaining true to our core values of customer service and above all, a deep passion for fine wine! I want to thank my entire team for their contributions in 2016 and of course our consignors, bidders, and friends. Here’s to a happy and successful 2017!”

A full copy of Zachys’ 2016 Year in Review is available for download here.

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