World auction market may shrink by 20%, say experts
World auction market may shrink by 20%, say experts
Oct 26, 2012 6
(Decanter) - The world auction market for fine wine may shrink by 20% or more in 2012, as the value of fine Bordeaux bottoms out, experts are predicting. Leading auction houses are warning that the market might fall by as much as US$100 this year, from US$500 to US$400m.
‘There has been a significant decrease and I would be surprised if it doesn’t shrink by more than that,’ Jamie Ritchie, Sotheby’s CEO of wine for the Americas and Asia told Decanter.com.
Comments