Newly launched Berry Bros & Rudd Auctions will hold its first sale this autumn, offering collectors around the world opportunities to buy rare wines and spirits, said the UK merchant.
It marks an entry into the fine wine auction market for Berry Bros & Rudd (BBR), which was founded in London in 1698.
No start date or specific lots have yet been announced for the debut auction but the merchant said its offer would include rare Champagne, Burgundy and Bordeaux wines – all staples of the global auction scene – as well as bottles from other regions.
It’s a challenging period for the fine wine market, yet several auction houses have continued to report strong buyer interest in the rarest bottles in 2024.
BBR said its new auction division complements its BBX online wine trading platform, launched in 2010, by creating ‘an additional route to market for larger collection sales of highly desirable stock with exceptional provenance’.
Geordie Willis, director of new ventures for BBR, said auctions were ‘a natural next step’ for the merchant.
‘We are global experts in fine wine and spirits, and our authentication processes and storage are among the best in the world,’ he said.
‘Our longstanding reputation as a respected and trusted merchant means we are perfectly placed to work with some of the world’s leading collectors to open up their collections to the world.’
BBR has one of the largest wine storage facilities in Europe, with a capacity of 14 million bottles. Wines offered at auction will have been checked by the merchant’s in-house authentication team, it said.
Fine wine prices on the secondary market have generally fallen over the past 12 to 18 months, following a period of strong gains on some wines, notably blue-chip Burgundy and prestige Champagne.
The Liv-ex 100 index – which tracks prices of collectible wines – fell 9.5% in the year to 31 August, but was still up 9.5% over five years, according to the latest figures from Liv-ex, a global marketplace for the trade.