Award Date

5-2008

Degree Type

Professional Paper

Degree Name

Master of Science in Hotel Administration

Department

Hotel Administration

First Committee Member

Patrick J. Moreo, Chair

Number of Pages

53

Abstract

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 United States, is being led by the two premier auction houses. Acker Merrall and Condit and Zachys both located in New York State have monopolized the auction marketplace within the United States combining for over $100 million in sales which equates to over a 33% stake in world marketplace. Acker is not new in this realm of setting the market standard.

Keywords

Wine auctions; Wine industry

Disciplines

Food and Beverage Management | Hospitality Administration and Management

Language

English

BowdenM_PP_SP2008 append1.pdf (11724 kB)
Appendix 1

BowdenM_PP_SP2008 append2.pdf (2224 kB)
Appendix 2


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