Global Wine Auction Market Sees Second Year of Decline

Hong Kong auctions buck the trend, logging a 113 percent increase in revenue
Peter D. Meltzer
Issue: March 31, 2010

Despite a solid showing in the second half of last year, the overall size of the global wine auction market declined 16 percent in 2009. According to figures released by the major commercial auction houses, worldwide sales of fine and rare wines fell from $276 million in 2008 to $233 million in 2009, placing the total revenue at pre-2006 levels. But beyond those numbers, a closer look reveals big changes afoot. Here are three things you need to know about how the wine auction market fared in 2009.

For the full article, check out the new issue of Wine Spectator, on newsstands March 2, 2010.

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