Sotheby's Nightcap Festival Nets $14.3 Million in Wine and Spirits Auctions
Sotheby’s recently launched its inaugural Nightcap festival focused on wine and spirits, raising an impressive $14.3 million through five separate auctions at the Breuer location in New York. The week-long event featured a variety of auctions, tastings, and dinners, attracting collectors and enthusiasts from 27 nations. This amount significantly surpassed initial projections of between $8.8 million and $12.6 million. The event achieved a remarkable 97 percent sell-through rate, with 62 percent of the lots exceeding their anticipated values. Notable auction items included rare Burgundy and historic Champagne, with a Karuizawa 1960 Cask #5627, known as "The Prototype," fetching $625,000.
Key facts
- Sotheby's inaugural Nightcap festival generated $14.3 million across five auctions
- The auctions took place in New York at Sotheby's Breuer headquarters
- The week-long program included tastings, dinners and other events
- Collectors, producers and enthusiasts from more than 27 countries took part
- The final total surpassed the combined presale estimate of $8.8 million to $12.6 million
- Nightcap achieved a 97 percent sell-through rate
- 62 percent of lots sold above their high estimates
- Karuizawa 1960 Cask #5627, known as "The Prototype," sold for $625,000 against an estimate of $400,000 to $600,000
Entities
Institutions
Locations
- New York
- United States