Matthew Knight
01/02/2026
The 2025 auction market delivered record-breaking sales
Every auction season has its headlines, but only a handful genuinely reshape how we think about the fine wine market. The global auction results published in the 2025 Auction Results report fall firmly into that latter category. Against a backdrop of cautious sentiment and selective buying, the numbers tell a clear and rather reassuring story: demand for truly exceptional wine has not disappeared. It has simply become more focused.
Across 2025, the auction market delivered record-breaking sales, historic prices for rare bottles and repeated examples of bidding intensity well above expectations. For investors, collectors, and long-term holders, these results provide valuable insight into where capital is flowing and, just as importantly, why.
One of the most striking aspects of the auction results is that they occurred during a period many would describe as a “cooler” fine wine market. Yet marquee sales still achieved white-glove results, with 100% sell-through rates and hammer prices consistently beating estimates.
The reason is straightforward. The auction market is not driven by volume; it is driven by conviction. Wines with impeccable provenance, genuine scarcity, and cultural significance continue to attract competitive bidding, regardless of broader market conditions. The report highlights that Burgundy and historic Bordeaux were once again the dominant forces, acting as the primary engines of value at auction.
If there was one unmissable theme running through the auction season, it was the ongoing strength of Burgundy. Top producers such as Domaine de la Romanée-Conti, Henri Jayer, and Domaine Armand Rousseau featured repeatedly among the most successful lots.
The standout sale of the year was a 1999 Domaine de la Romanée-Conti Methuselah, which achieved $275,000 at Christie’s New York, the top lot of 2025. Large formats, particularly Methuselahs, continue to command a significant premium, reflecting both rarity and long-term collectability.
These results reinforce a point we regularly discuss with clients: Burgundy’s scarcity is structural, not cyclical. When demand returns, it does so quickly and decisively, because there is simply not enough wine to satisfy global interest.
While Burgundy led the headlines, Bordeaux (particularly historic vintages) played a crucial supporting role. The auction results show that age, rarity, and provenance can be just as powerful as brand recognition.
Examples include an 1899 Château Haut-Brion three-bottle case from the Piatigorsky cellar, which achieved $106,250, and an 1875 Château Giscours, which set a world record for the estate at $106,250. These are not everyday investment wines, but they illustrate an important truth: when provenance is beyond question, buyers are willing to pay extraordinary prices.
Single-owner collections, especially those with direct lineage to producers or long-established collectors, significantly outperformed general consignments throughout the year.
Looking at the biggest sales by total value helps contextualise the strength of the market. Christie’s New York led the way with $28.8 million from the Cellar of William I. Koch, almost double the minimum pre-sale estimate. The 165th Hospices de Beaune sale followed closely, raising €18.8 million, the third-highest total in its history, with average hammer prices per barrel rising by 4.6%.
Other notable sales included Acker’s La Paulée auction at $13.3 million and Zachys’ Piatigorsky collection at $11.2 million, the latter achieving nearly four times its pre-sale low estimate. These are not marginal results; they are decisive signals of demand.
One of the most telling indicators of market confidence is how frequently auctions exceeded expectations. Acker’s La Paulée sale finished 33% above estimate, while the Zachys de Rothschild sale quadrupled its low estimate, achieving $11.16 million against an expected $2.8 million.
Even more impressively, Hart Davis Hart’s August auction achieved a 100% sell-through rate, with 42% of lots hammering above their high estimates. Bonhams also reported exceptional results from ex-restaurant and single-cellar sales, including a Domaine Leroy Musigny that sold for more than double its low estimate.
In short, when the right wines came to market, buyers were prepared to act decisively.
Another encouraging trend highlighted in the report is the continued evolution of the buyer base. Digital engagement is no longer a secondary channel; it is central to modern auctions. Christie’s reported that 55% of new buyers at the Joseph Lau sale were millennials, with 40% bidding online.
This matters for long-term market health. A younger, digitally confident buyer base ensures liquidity and continuity for decades to come. Fine wine is no longer reliant on a shrinking pool of traditional collectors; it is attracting a new generation who understand rarity, provenance, and long-term value.
From an investment perspective, the auction results underline several key principles.
First, selectivity matters more than ever. The strongest results came from wines with clear investment credentials: blue-chip producers, historic vintages, large formats, and impeccable provenance.
Second, auctions continue to validate long-term holding strategies. Many of the standout bottles sold in 2025 had been cellared for decades. Their owners were rewarded not for timing the market, but for patience.
Finally, the results reinforce the importance of diversification within fine wine. Burgundy, Bordeaux, and rare historic bottles all played different roles, but each contributed to overall market strength.
The 2026 auction results are not simply a summary of impressive numbers; they are a statement of intent from the global fine wine market. In a year that demanded discipline and discernment, buyers responded by backing the very best wines with conviction.
For investors, that is perhaps the most reassuring takeaway of all.
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20 Jan 2026
