Sotheby's Opens Retail Wine Store

As noted on the AW Blog from article and press releases, luxury goods have been a very in demand commodity.  People with money have expensive taste and wan the best. With that in mind, we have also seen the major auctions houses take advantage of an important segmentt of their clientele, the wealthy by expanding into other areas services and retail.  Sotheby's has now opened a retail wine store in New York city, offering wines valued from $13.95 to $40,000.00.

Sotheb's sold a total of $35 million in the first half of 2010 a auction.  This represents a 76% increase compared to the same period last year, so it is not a stretch to believe that the Sotheby's retail brand will be a success.

In  Press release, Sotheby's states

Sotheby’s today launches a retail and online wine business, becoming the only ajor global auctioneer also offering fine wines at retail and online. The team at Sotheby’s Wine is known for an unsurpassed level of knowledge and expertise and has put together some of the most well known and historic wine auctions around the world. That level of care and expertise that has previously only been available for those wishing to bid at auction can now be used by anyone throwing a party, selecting a gift, putting together a collection or just planning dinner. This full service store, which has been designed by Deanna Kuhlmann-Leavitt of St. Louis-based Kuhlmann Leavitt Inc, offers a range of wine at competitive prices from $13.95 to $40,000 per bottle. Sotheby’s Wine is now fully open at 1334 York Avenue on Manhattan’s Upper East Side or at www.sothebyswine.com.

Jamie Ritchie, President and CEO, Sotheby’s Wine, Americas and Asia said: “We have been planning this business for a long time as we often speak to people who would like to buy wine from Sotheby’s but who want more flexibility and immediacy than bidding in our auctions. With the launch of our retail wine business we can now offer a complete service to anyone with an interest in wine. Because of our decades of experience working with wine makers and collectors from around the world, we are uniquely placed to help wine lovers get the most out of one of life’s great pleasures. Our team source and taste constantly, so all our wines are of high quality, typical of their region and offer good value for money. Our selection includes the best producers, but also our favorite wines that may be less well known and which are sometimes exclusive to us in the United States. It’s an exciting time to launch this business, with the combination of our new retail store and website—technology is playing an ever bigger role in how people purchase wine and we are keen to see how user-friendly our new website is in helping them find their favorite wines and make new discoveries.
Click HERE to visit the Sotheby's Wine website.

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