CHRISTIE’S have helped see off the longest hangover in history as they prepare to auction vintage brandy, whisky and bourbon for the first time in New York.
The auction house were active lobbyists in the campaign to revoke the law banning such sales, introduced as part of Prohibition in 1920.
Public sales of vintage cognac, armagnac, Scottish, Irish and American whiskies, bourbon and other traditional spirits will now be legalised in the city after the New York State governor Eliot Spitzer ratified new legislation last week.
Although wine sales have been allowed in the state for many years, public auctions of spirits and liquors remained forbidden after Prohibition was repealed in 1933.
The new laws will take effect after 60 days and New York now becomes only the eighth US state to allow such auctions.
Within hours of the signing of the bill, Christie’s announced plans to offer liquor for the first time at a New York auction in December, which will be co-ordinated by their wine department.
The auctioneers have seen rising totals for wine over the last five years, thanks mainly to increased Chinese bidding and the rising levels of corporate bonuses. They are now hoping to see similar levels of interest in rare liquors.
The Distilled Spirits Council, which also lobbied for the bill, estimated that millions of dollars in spirits sales have been lost to London, Paris, Glasgow and other auction centres around the world.
“New York is the global trend-setter, and it’s entirely fitting collectors have the ability to conduct business in New York,” said the Distilled Spirits Council President Peter Cressy.
“Not only will this accelerate the consumer trend for super premium spirits products, but it will bring new revenue to state coffers. We commend the legislature for passing the bill and Governor Spitzer for signing it into law.”
The new law also allows for spirit tastings at the auctions, just as it is already allowed for wine auctions.
Nationally, 17 states permit wine auctions.
By Alex Capon
Christie’s help see off hangover from Prohibition
New York to hold liquor auctions
