19 Nov Post Auction Report of Spring 2024
In the beautiful spring time of the past two months, we hosted three significant auctions, Spring Live auction at our Eden Terrace sale-room followed by its online Buy Now sale, Special Live Auction at Rees Hotel and its online Buy Now sale, then our regular Late Spring Online auction. We showcased an extensive collection of wines, drawing significant interest from bidders worldwide.
All three auctions successfully highlighted the vibrancy of the wine market and demonstrated a robust interest in both French and New Zealand wines, with back-vintage Burgundy and Bordeaux wines leading in terms of highest sales. The presence of quality Italian wines also contributed to a diversified offering that appealed to a wide range of bidders.
With competitive bidding and a strong turnout, both buyers and sellers can look forward to future events with optimism. Collectors are encouraged to take advantage of the current trends by diversifying their collections with sought-after wines from these regions.
In our Spring Live Auction, Australia emerged as the best-selling region, particularly driven by the demand for Penfolds wines, which have a strong reputation for quality and aging potential. 1990 Penfolds Grange Bin 95 scored the highest winning bid at $916.50 while the 2-bottle lot of 1998 Penfolds Grange Bin 95 sold for $1833. New Zealand wines, particularly Cabernet Sauvignon and blends, showed solid performance, with several lots achieving prices between $120-$660. The 12-bottle OWC of 2019 Stonyridge Vineyard Larose sold for $1692 while 6-bottle lot of 2020 Te Mata Estate Coleraine sold for $775.50 and 2-bottle lot of 2015 Destiny Bay Magna Praemia scored $752.
Some other highlights include, 1985 Chateau Lafite Rothschild 1er Cru Classe sold for $846, 2016 Domaine Francois Raveneau Montee de Tonnerre selling for $587.50, and NV Bollinger Rose 3000ml sold for $634.50.
Live Auction at The Rees was a resounding success, showcasing an impressive array of fine and rare wines, whilst local Central Otago Pinot Noir was hotly contested in the sale room, the buy-now bidders demonstrated their clear preference for Burgundy wines, particularly those from esteemed producers. France, particularly the Burgundy region, dominated the auction, with multiple lots from renowned producers like Domaine de la Romanee-Conti and Armand Rousseau achieving best performance.
The highest hammer win was scored by 2016 Domaine de la Romanee-Conti La Tache Grand Cru, which sold for $ 7990. 2013 Domaine de la Romanee-Conti Richebourg garnered the most attention, with six active bidders vying for this exceptional wine, before it ultimately sold for $5875. Not to mention a set of (3) 2014 Domaine de la Romanee-Conti Echezeaux Grand Cru achieved $12337.50.
Other highlights include 1990 Chateau d’Yquem 5000ml sold for $5875, 2017 Domaine Armand Rousseau Chambertin Grand Cru sold for $2350, a vertical vintage of 2008-2013 Rippon Emma’s Block Pinot Noir sold for $1351.25 and OWC 2021 Felton Road Block 5 Pinot Noir 3000ml scored $1128. There was also a charity component to this auction with all proceeds from Lots 83 – 111, including all fees, being donated to the Central Otago Pinot Noir Charitable Trust. Through the generous bids we were able to raise $4853.44.
In our most recent Late Spring Online Auction, we featured lots with a wide price range, from low-end sales around $20 for sparkling wines to premium wines selling above $700.
The standout lots were 1976 Chateau Cheval Blanc and 2016 Domaine Gros Frere et Soeur Grands-Echezeaux Grand Cru, which both achieved $705. The highest multi-lot win once again went for a 12-bottle OWC of 2016 Stonyridge Larose which sold for $1692. Some other notable sales included 2002 Tenuta dell’Ornellaia sold for $376 and 2015 Passage Rock Magnus 1500ml scored $235.
As we look toward the fast-approaching 2025, the wine market holds tremendous promise, driven by an ever-growing appreciation for fine wines and the passion of collectors and connoisseurs alike. The increasing interest in diverse regions and unique vintages suggests a vibrant landscape ahead, where both seasoned collectors and new enthusiasts can thrive. We extend our heartfelt gratitude to all bidders and consignors for their participation and trust in our platform. Your support not only fuels the excitement of the auction but also plays a crucial role in fostering a dynamic community that celebrates the art of wine. Together, we are poised to cultivate a flourishing market that honours tradition while embracing new approaches to wine.
Our next sale will be our final Live Auction of 2024, starting from 6pm on December 3rd. This is another sale filled with outstanding wines, showcasing a range of values with wonderful provenance. Catalogue will be published soon so be sure to subscribe to our newsletter to be the first ones to know. We finish the year with our New Year’s Online only auction that will start on the 26th December and run through to 7pm 5th January.