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Paris, July 30th, 2021 – The Conseil des Ventes Volontaires, France’s auction authority, just released its annual report, naming iDealwine the number one wine auctioneer in the country for the sixth year in a row.
France’s Most Prominent Wine Auctioneer
The Conseil des Ventes Volontaires (CVV), France’s auction regulating authority, has released a study ranking the best auction houses in all categories, including fine art, collectors’ goods, antique vehicles, and more.
Wine and spirits are grouped along with art and collectors’ goods.
For the sixth year in a row, the CVV has verified that IWA (International Wine Auction, a subsidiary of iDealwine) is France’s top wine auctioneer, with a 42 percent market share.
“As seen in previous years, the performance of this category is primarily based on the success of the market leader: International Wine Auction [iDealwine’s subsidiary], which operates online only and sold 93,739 lots at auction (compared to 80,000 in 2019), achieving hammer prices totaling €19 million (€17.6 million in 2019 or a 7% increase),” according to the CVV.
In 2020, iDealwine conducted 41 auction sales (one every nine days), auctioning over 175,000 bottles for a total of €23.4 million including tax, accounting for more than 40% of all wine sold at auction in France (up from 37 percent in 2019). Aside from auctions, iDealwine’s fixed price sales, which include wine supplied directly from partner properties at cellar door pricing, have grown by 46% to €10 million. In 2020, iDealwine earned €33 million in sales, up 15% from the previous year.
In general, the fine wine market at auction is stable.
Despite the ups and downs of the year, the fine wine auctions industry has remained relatively steady, with iDealwine increasing the distance between market leaders. Wine auctions in France produced €47 million in revenue, minus commissions (2019: €47 million, 2018: €46 million), accounting for just 4% of the total art and collectors’ goods category in France. The category of art and collectors’ goods had a substantial 22.4 percent decrease in sales. In the art and collectors’ item area, IWA (and therefore iDealwine) has grown to become France’s seventh most significant auction house. Of course, the epidemic hastened much of this activity. iDealwine was ideally positioned to cope with the unusual circumstance as a fully digital participant in wine auctions.
“We are thrilled by this announcement,” stated Cyrille Jomand, CEO of iDealwine. Capital Croissance, an entrepreneurial fund, recently invested in iDealwine. With this, we want to expand iDealwine’s presence not just in the fine wine market, but also in spirits, thanks to our new Fine Spirits Auction platform, which, in collaboration with La Maison du Whisky, auctions whiskies, cognacs, rums, and other fine spirits. iDealwine is also promoting its new customized cellar consulting and management service, which is available to wine enthusiasts, collectors, and investors alike.”
Please refer to the tables below, which are courtesy of the Conseil des Ventes Volontaires.
This article broadly covered the following related topics:
- capital croissance
- french wines
- best wines 2020
- oldest wine in the world
- aoc wine france