Food and Beverage Management Commons^™

An Assessment Of The World Wine Auction Marketplace, Michael M. Bowden

UNLV Theses, Dissertations, Professional Papers, and Capstones

The fine wine marketplace has exploded in recent years, especially within the United States. Driven from super-heated prices this year [2007], American and European wine auctions sponsored by English-language houses realized at least US$333,209,438 in revenues this year, up from last year’s [2006] US$242,803,251 (Goldberg, 2007). It should also be noted that Peter D. Meltzer, from Wine Spectator magazine, stated that “worldwide auctions of fine and rare wines rose 25 percent over 2006 to hit a record $301 million in sales, according to figures just released by the major auction houses” (Meltzer, 2008, P. 128). This charge, especially in the …