As dining rooms close in response to COVID-19, rare wine sales provide a much-needed revenue source for restaurants — and a once-in-a-lifetime opportunity for collectors
to sell off their wine lists. And at fine dining restaurants, cellars full of scarce, “once-in-a-lifetime” bottles represent big investments that operators now need to recoup as quickly as possible.
But even as they sell sought-after wines for a steal, these restaurants are met with challenges in offloading their most prized bottles. “There are always buyers, and there are always people who are willing and able to take advantage of a situation like this,” says Jordan Salcito, director of wine special projects at Momofuku and the founder of the canned wine beverage Ramona. “The problem is, no one that I know is thinking about buying right now.
With over 150 bottles of Champagne on the list at each location, including rare bottles, the bars carry a significant amount of inventory that could potentially bring a much-needed infusion of cash. Pelka says pivoting to a retail operation wouldn’t make sense — he was reluctant to put his staff at risk of exposure to customers. Plus, he adds, ”there’s not a huge amount of everyday consumers who are going out and purchasing expensive bottles of Champagne as the economy collapses around them.
Other auction houses, like Zachys, are collaborating with fine dining restaurants to help them liquidate their cellars. “We look at restaurants coming to us to sell as colleagues during an unprecedented and difficult time,” says Zachys president Jeff Zacharia. “We can help because we can sell massive amounts of high-end wine very quickly.”
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