Bonhams Witnesses Most Successful Year

Bonhams, a British auction house headquartered at London, recorded 2016-17 as its most successful year due to skyrocketing whisky sales.

The company held its first whisky sale in 2008. As an usual practice, four sales are hosted at the Edinburgh office and four in Hong Kong. Bonhams conducted its first-ever online sale in 2017. Whisky, the biggest sellout this year, accounted for a total revenue of £919,000, equivalent to USD 1.2 million.

A whisky specialist at Bonhams reported that last year had been an exceptional year for whisky sales in Scotland, especially at their office-front in the capital city. Ever since the auctioneering process started, the market has shown signs of gradual growth with every passing year. However, to that end, 2017 generated an unprecedented amount of revenue.

The lifestyle choice of collecting and storing fine spirits is an international pursuit today. Banhams has undoubtedly benefited from this global interest; the benefit is not just in terms of an expanding customer base but also in terms of higher revenue. The company has a loyal customer base; they bid regularly from China, Singapore, Japan, Hong Kong, Taiwan, Europe, and the American continents.

Auctions in 2017 were inclusive of several noteworthy signature whiskies. A 50 Year Old Dalmore from 1926 was sold for £26,250. The Bowmore Trilogy, a combined set of a 42 Year Old Black Bowmore, a 43 Year Old White Bowmore, and a 44 Year Old Gold Bowmore, all from 1964 were sold for £25,000 in December. The 50 Year Old Macallan Millennium Decanter from 1949 was sold for a record amount of £21,250 in June, while The 25 Year Old Macallan Select Reserve from 1946 was sold for a list topping £15,625 in October.

The star highlights of last year’s auctions include a 50 Year Old Macallan from 1928 that was sold for 588, 000 HKD in November. What stands out as the most impressive sellout is a complete set of The Macallan Lalique Six Pillars Collection, reportedly sold for 3,797,500 HKD, equivalent to USD 485,244 in August.

Sources:
https://beveragetradenetwork.com/en/latest-news/bonhams-hails-successful-year-for-whisky-sales-5422.htm

https://www.thespiritsbusiness.com/2017/12/bonhams-hails-most-successful-year-for-whisky-sales/

 

Whisky News source date: 
Thursday, January 11, 2018

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