Berry Bros. & Rudd inaugural auction a resounding success
6 MINUTE READ • Thu, Nov 28, 24
Berry Bros. & Rudd, the UK’s oldest fine wine and spirits merchant, welcomes the dramatic success of its inaugural auction, which closed last week.
This single-owner online auction contained almost 600 lots of wine from the cellar of Ian Mill KC, the owner of one of the greatest collections of Burgundy in the world. It achieved a 100% sell through rate, having attracted bids from customers (10% of whom were new to BBR) in over 40 countries globally, including China and the US.
A notable 27% of the lots sold at or above their high estimate – including a 1969 Clos de la Roche, Domaine Ponsot, which sold for three times above the high estimate – and the average hammer price was more than 120% above the reserve.
The merchant created a new platform to deliver the initiative, working with auction platform expert supplier, iRostrum, to deliver the technology.
Geordie Willis, Director of New Ventures for Berry Bros. & Rudd, said: “We knew that offering such an esteemed collection of wines for the launch of our auction business would be exciting but we are delighted with the response from customers new and old from all over the world. We have already received interest in our next auction, to be held next year.”
Ian Mill KC said: “I too am delighted by this outcome, which fully justifies both BB&R’s decision to enter the wine auction world and my decision to entrust to them the sale of part of my collection. Their professionalism, enthusiasm and level of commitment throughout have been impressive and bode well for the future of this venture.”
This single-owner online auction contained almost 600 lots of wine from the cellar of Ian Mill KC, the owner of one of the greatest collections of Burgundy in the world. It achieved a 100% sell through rate, having attracted bids from customers (10% of whom were new to BBR) in over 40 countries globally, including China and the US.
A notable 27% of the lots sold at or above their high estimate – including a 1969 Clos de la Roche, Domaine Ponsot, which sold for three times above the high estimate – and the average hammer price was more than 120% above the reserve.
The merchant created a new platform to deliver the initiative, working with auction platform expert supplier, iRostrum, to deliver the technology.
Geordie Willis, Director of New Ventures for Berry Bros. & Rudd, said: “We knew that offering such an esteemed collection of wines for the launch of our auction business would be exciting but we are delighted with the response from customers new and old from all over the world. We have already received interest in our next auction, to be held next year.”
Ian Mill KC said: “I too am delighted by this outcome, which fully justifies both BB&R’s decision to enter the wine auction world and my decision to entrust to them the sale of part of my collection. Their professionalism, enthusiasm and level of commitment throughout have been impressive and bode well for the future of this venture.”