Sothebys opens a wine store in New York
The auction house has bought out Aulden Cellars, the retail wine store on the ground floor of its headquarters on the upscale Upper East Side.
Sotheby's Wine is the first of its kind for the company. Selling fine wine at retail. It offers a broad range of wines with prices ranging from US$13.95 to US$40,000 per bottle.
Wines will be available online and shipped worldwide or delivered to New Yorkers.
When Sotheby’s began its wine auctions in 1994, New York State law required that stand-alone auction houses that wanted to deal in rare and fine wine had to partner with a store that had held a state liquor license for 10 years.
If the Manhattan store is successful it may open Sotheby’s Wine stores elsewhere in the US.