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Going Once, Going Twice...Sold |
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Thursday, 16 August 2007 |
Liquor connoisseurs will soon be able to bid on rare distilled spirits from around the globe at auctions in New York State, thanks to a bill signed by New York Governor Eliot Spitzer.
Christie's, the world's leading art business and a supporter of the new law, immediately announced plans to hold the first liquor auction in New York through NYWines Christie's. This will be the first such auction in New York since Prohibition began in 1920.
"Having followed the passage of the bill very closely, we are now able to formally announce our plans for an auction to include collectible spirits this December. We are currently accepting consignments of vintage cognac, armagnac, Scottish, Irish and American whiskies, bourbon and other traditional spirits," says Richard Brierley, Head of Christie's Americas Wine Sales. "Christie's is pleased that the efforts of the Distilled Spirits Council have resulted in this positive change in New York State law."
The Distilled Spirits Council, which lobbied for the bill, estimates that millions of dollars in exclusive spirits sales have been lost to London, Paris, Glasgow and other auction centers around the globe because spirits auctions have been against the law in New York, costing the state large amounts in lost sales taxes.
"New York is the global trend-setter, and it's entirely fitting collectors have the ability to conduct business in New York," says 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."
Cressy notes that the new law also allows spirits tastings at the auctions, just as it is already allowed for wine auctions. Nationally, 17 states permit wine auctions, but New York becomes only the eighth state to authorize spirits auctions.
The legislation, Senate Bill 3606, was sponsored by Senator George Winner and passed the Senate 58 to 1 on June 19, and unanimously passed the Assembly the following day. The bill takes effect 60 days after the governor's signature.
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