Term (also auction or, in Austria, licitation) for the auctioning of products or goods of all kinds to the highest bidder. Auctions have always been common as a special kind of wine trade. Even in ancient Rome, special wines such as the famous Falernian were auctioned off. In the Middle Ages, it became established that buyers also travelled to the producers to meet their needs on site. Until the 17th century, wines were mainly auctioned in barrels, until bottling became common. The Bordeaux wine trade in particular, with England as its main customer, led the way. In Germany, it became customary to auction certain wines in the 18th century.
London has always been and still is considered the centre of the worldwide auction trade for wines and spirits. The largest and most important auction houses today are Christie's in London, founded in 1759, and Sotheby's in New York, founded in 1744. Both companies were founded in London, but Sotheby's is now headquartered in New York. Smaller auction houses in England are Bonhams, Bigwood and Straker-Chadwick. A wine trading house specialising in old wines is Antique Wine Company (London). In France, the auction house Artcurial, with its headquarters in Paris, also specialises in old wines. In the USA, besides Sotheby's, the most important auction houses are Butterfield & Butterfield (San Francisco), Chicago Wine Company and Zachys (New York). In the course of time, a market has developed not only for collectors and enthusiasts, but also for wealthy investors for the purpose of capital investment.
Auctions often have a charitable purpose, the most famous and oldest being the Burgundian Hospices de Beaune, also known as "Hôtel Dieu" (Hotel of God), which has been holding them annually since 1443. Other similar events are the Hospices de...
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Dominik Trick
Technischer Lehrer, staatl. geprüfter Sommelier, Hotelfachschule Heidelberg