Christie’s to Open Wine Shop at Rockefeller Center

Christie’s will open a wine shop at its Rockefeller Center headquarters, enabled by a new New York State law passed last month that allows the auction house to bypass a century-old prohibition-era regulation barring wine shops from also being producers. This was a particular issue for Christie’s, owned by French billionaire François Pinault, who also owns nine wine estates including Château Latour in Bordeaux. The shop aims to revitalize Christie’s wine auction business, which was once the world’s largest but now, with $89 million in global sales, trails behind Acker, Sotheby’s, and Zachy’s. Christie’s spokesperson Angela Montefinise stated the house participated in a legal process to ensure consumer protection and compliance. Christie’s Wine and Spirits is expected to open by year-end, focusing on expanding US market presence and offering rare, high-quality wines to both new and experienced collectors. In June, the sale of William I. Koch’s collection for $28.8 million set a North American record for a single-owner wine collection. A subsequent sale on June 8 fetched $3.2 million with a 100% sell-through rate for bottles from a Silicon Valley pioneer cellar.