Influential Online Art Auctioneer Dips Their Toe Into Spirits Sales

Another new spirit arriving at auction doesn’t usually have industry-wide implications, but Dobel Tequila’s ultra-rare new expression is different. That’s because Artnet Auctions—better known for high‑end paintings and Contemporary works—announced this as its first curated spirits sale, signaling more than just another collaboration.

With fine‑art auction revenues down roughly 32% year‑over‑year and Sotheby’s reporting a 28% decline in wine and spirits sales, the timing underscores a broader pivot among auction houses toward other assets and potential alternative revenue streams for spirits.

Market Context and Financial Stakes

• Art‑Market Softening: Sotheby’s fine‑art sales fell from $5.6 billion in 2023 to $3.8 billion in 2024, a near one‑third decline, while Christie’s has similarly reported muted buyer demand. Artnet’s own Marketplace revenue—covering its Gallery Network and NFTs—dipped about 13%.
• Spirits Landscape: According to data from the Distilled Spirits Council of the US, US tequila volume sales grew by approximately 4.2% in 2024, outpacing whiskey (-6.1%) and Bordeaux (-3%), even as overall wine and spirits auctions contracted by nearly 12.7%.

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Strategic Diversification

Artnet’s “one‑off” spirits auction speaks to more than just a gimmick. With art‑market headwinds squeezing margins, tapping into tequila—a bright spot in the spirits sector—allows Artnet to reach new collectors and capture ancillary revenue streams.

“Artnet is renowned for its specialization on Postwar, Modern, Contemporary and Ultra Contemporary art. While we will maintain this focus, we also are open to exploring new opportunities as they arise,” an Artnet representative said in an online exchange.

“Dobel Tequila continues to push boundaries between fine art, craft, and spirits, which is apparent in all its initiatives and something we respect and value.”

For investors, the move hints at a broader trend: when traditional luxury categories stall, platforms will seek hybrid offerings to maintain engagement and profits.

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The Juice: Dobel Tequila Grandes Maestros Collection

Dobel’s Francisco Toledo Edition is an Extra Añejo, aged a minimum of three years, with up to four months afterward in mezcal barrels for subtle smoky notes. Only 15 US bottles exist, each starting at $5,000, with Artnet auctioning off one. Packaging is integral at this level: etched Toledo artwork on the bottle, housed on a rotating wooden base with four art‑bedecked cubes.

“Tequila continues to prove its power as both a cultural force and a canvas for innovation,” said Lander Otegui, CMO of Dobel’s parent company Proximo Spirits, in an emailed statement.

“With this release, we aimed to push the category even further by blending the mastery of aged tequila‑making with the visionary artistry of Francisco Toledo.”

Cultural Cachet and Collector Appeal

Francisco Toledo has a legacy as one of Mexico’s most important contemporary artists, with a more than seven-decade-long career in painting, graphic art, and sculpture.

“People familiar with Toledo’s work will instantly recognize that this is a work by Francisco Toledo, which speaks to Dobel as a creative partner,” Artnet’s representative said. “As with most of Toledo’s work, the Grandes Maestro Collection transcends the categories of premium spirits or collectible art and blurs the lines between functionality and fine art.”

The mezcal‑barrel finish leans into hybrid aging techniques, adding narrative depth to each dram.

Outlook: Repeat or Rarity?

Though Artnet calls this collaboration a “one‑off,” a successful outcome and positive collector feedback could lay the groundwork for future cross‑category ventures. For the spirits sector, it will be interesting to see if Artnet reopens its auction block to spirits in the future—either to tequila, or even rare whiskies, cognacs, and fine wines.