International auction house Christie’s is set to expand its wine operation in the US with a new sale room in Los Angeles.
The new site along the West Coast, reflect a strategic decision to both cater to and cultivate California, the US’s largest wine producing state, in conjunction with the Asian markets. Over the last five years, both the luxury division at Christies, and wine in particular, has seen a marked increase from these two regions, with around 40% of active wine clients now coming from either the West Coast or Asia.
The first Fine and Rare Wine sale in LA will take place in January, with a selection of international wines.
Bonnie Brennan, president of Christie’s America, said the auciton house was excited to reinforce its California presence with the addition of online sales in wine. “We have seen time and again that wine is a strong entry point into both luxury – and the wider auction industry – and this represents a fantastic opportunity to cultivate clients in these active regions,” she said.
Christopher Munro, head of department, Wine and Spirits, Christie’s Americas, added that the new site would join the global wine sales calendar, alongside sale sites in Hong Kong, Shanghai, London and Geneva. “As evident in the successful sale of The Benjamin Ichinose Collection, one of the finest collections from California to appear at auction, we continue to see significant growth in participation from both consigning and buying from the West Coast and are excited to host our sales closer to our growing client base in the wine state.”
The wine team has added a new junior speciatlist, Adam Schneider, who will be based in Christie’s Los Angeles.