By Elin McCoy
“Jan. 4 (Bloomberg) – Wine auctions are fast becoming big business; they’re starting to look like the art market,” Zachys auction adviser David Wainwright said in November at the Scarsdale, New York, retailer’s first-ever evening sale.
In the second half of 2006, the U.S. wine auction market set records as prices spiraled upward. U.S. sales topped $167 million, while New York auctions rose 66 percent from 2005. The finest wines seem to be the world’s hottest luxury goods of late, and the thirst for them appears to be unquenchable.”