Acker Merrall to Surpass US $1 Billion in Auction Sales on June 9th in Hong Kong
Industry: Food & Drink
A decade of leadership in the global wine auction market proves fine & rare wines to be one of the best investments of past 20 years
New York, NY (PRUnderground) June 5th, 2018
Acker Merrall & Condit (“Acker Merrall”, “Acker” or the “Company”) America’s oldest wine shop and the World’s largest wine auction firm, will surpass US$1 billion in wine auction sales at the Company’s next live auction on June 9th in Hong Kong. The Billion Dollar celebration will continue June 20th in New York City at Acker’s final auction of the spring season, where over US$8 million of fine wine will be on offer at the Company’s largest auction this banner year.
This is a significant milestone for the Company and highlights the successful transformation Acker Merrall has undergone, from a high-end grocery store to the World Number One wine auction house. Acker Merrall has dominated the global wine auction market for the past decade, generating sales greater than any other wine auction house. From its roots as a small family business in 1820, Acker Merrall has grown nearly 2500% in just the past 20 years to become the unrivalled leader in its field. The Company estimates sales of over $60 million in the first six months of 2018, which will take it past that prestigious mark of US$1 billion total revenue in June.
The world’s most exclusive wines have proven to be a true liquid asset class for collectors around the world. Indeed, in its Global Investment Returns Yearbook for 2018, Credit Suisse recognizes fine and rare wine as the best-performing collectable, delivering great returns for investors[1]. The chart below shows how the top wines sold by Acker Merrall in 1999 increased in value by almost 9x in the 20 years the firm has been auctioning wine. In 1999, cases of these wines cost $122,820 at auction from Acker Merrall. Their value has since surged to $1,083,404 YTD in 2018 at Acker[2]. In contrast, the S&P 500 Index has risen 35% over that 20-year period (1999 to end 2017) so, based on that gain, that same $122,820 would be worth $165,820 – one-sixth the value of the wine investment. Standout performers such as a case of 1993 Roumier Chambolle Musigny Les Amoureuses increased in value by 4,470% – more than 45 times the initial investment.
The world’s greatest wines and producers, chosen with expert guidance, have not simply maintained their competitive value but have, in many instances – as shown in the chart above – demonstrated superior investment performance when compared with the S&P 500.
“We are fortunate to have some of the most passionate wine connoisseurs as our valued customers, as buyers and sellers. This, coupled with our own love of wine has built the foundation of Acker’s success, allowing us to reach number one in the global fine and rare wine market and celebrate the US$1 billion milestone this year,” said John Kapon, Chairman of Acker Merrall and Condit. “Our customers choose Acker Merrall in pursuit of the best fine and rare wine investments and experiences. Sharing the greatest wines with the wine lovers of the world is an extraordinary privilege enhanced only by watching the value and rarity of these treasures increase over time.”
For more information about the next upcoming auction in Hong Kong on June 9th 2018 and New York City on June 20th, or about consigning wines to Acker’s Fall 2018 auctions, please visit www.ackerwines.com or email info@ackerwines.com.
About Acker Merrall & Condit
Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest fine and rare wine auction house. With affiliates in New York, Hong Kong and Tokyo, the company holds more than fifteen live auctions each year, with online auctions held each month. Acker’s team of experts is devoted to helping customers buy and sell the best wines and sharing with them the experience of enjoying and learning about wine. The company spreads its expertise in global wines by organizing regular wine dinners through its affiliate, The Wine Workshop, and managing the wine programs in the corporate dining rooms of Fortune 500 companies. An extensive inventory of fine and rare wine is available at all times from Acker’s retail store on the Upper West Side of Manhattan, in Hong Kong at its Kennedy Town offices, and through its Fine Wine Concierge service. Three generations of the Kapon family have been dedicated to bringing the best of the vine from their family business to global customers in the world’s most discerning markets.
[1] Credit Suisse Global Investment Returns Yearbook 2018 https://www.credit-suisse.com/media/assets/corporate/docs/about-us/media/media-release/2018/02/giry-summary-2018.pdf
[2] 1999 & 2018 pricing extrapolated to 12 bottle quantities for consistency in comparison, where necessary
About Acker Merrall & Condit
Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest fine and rare wine auction house. With affiliates in New York, Hong Kong and Tokyo, the company holds more than fifteen live auctions each year, with online auctions held each month. Acker’s team of experts is devoted to helping customers buy and sell the best wines and sharing with them the experience of enjoying and learning about wine. The company spreads its expertise in global wines by organizing regular wine dinners through its affiliate, The Wine Workshop, and managing the wine programs in the corporate dining rooms of Fortune 500 companies. An extensive inventory of fine and rare wine is available at all times from Acker’s retail store on the Upper West Side of Manhattan, in Hong Kong at its Kennedy Town offices, and through its Fine Wine Concierge service. Three generations of the Kapon family have been dedicated to bringing the best of the vine from their family business to global customers in the world’s most discerning markets.
