15 Mar Report on Late Summer Auction & Announcing the Date of Autumn Live Auction
Our Late summer online auction closed on Sunday, March 05 with a flurry of activity, the results of which summed up the first quarter of 2023 beautifully. This sale featured wines from a range of regions and was studded with exemplary wines from each. The top bids from this auction spanned a diverse range of regions, a sharp contrast to 2022 when Burgundy, Champagne, and Bordeaux dominated the leading sales list. We are only three months into 2023, but these distinct results confirm our view that wines with better relative value will play a significant role in upcoming auctions. Before we head into the line results of this auction, we wish to extend a heartfelt thank you to our community. Through your hearty bidding and generous spirit, we are thrilled to have made a tidy donation on your behalf to the Red Cross Appeal for the New Zealand Disaster fund.
The highest hammer win went for 2005 E. Guigal La Landonne at $893, also from Guigal, its 2013 La Mouline sold for $470. For the first time, Riesling featured in the top 3 sales, 2007 Egon Muller Scharzhofberger Riesling Auslese achieved $470; from the same vintage and producer, its 2007 Spatlese sold for $293.75.
Burgundy, once again, was the best-performing region overall. 1999 Domaine Jean Grivot Clos de Vougeot Grand Cru also reached $470, followed by 2010 Domaine Taupenot Merme Charmes Chambertin Grand Cru at $423, and 2003 Pascal Lachaux Chambertin Grand Cru at $376. 2008 Domaine Francois Lamarche Echezeaux Grand Cru and 2010 Domaine Taupenot Merme Mazoyeres-Chambertin Grand Cru both sold for $352.50.
No auction is complete without Penfolds, 1997 Penfolds Grange Bin 95 was snapped at $587.50. 1998 Jim Barry Armagh sold for $352.50; both its 1987 and 1990 vintage sold for $293.75. Syrah blends from home, 2014 Craggy Range Le Sol reached $152.75.
One of New Zealand’s flagship Bordeaux blends, Te Mata Estate Coleraine from its iconic vintage 1998 scored $305.50. 2008 Vieux Chateau Certan (Bordeaux) sold at the same price of $305.50.
Being the most established segment of the fine wine market, Bordeaux has seen slower performance over the past year yet remains the most stable region for growth in the last decade. This means it’s a great time to buy and bank these Bordeaux wines now, as prices will likely increase again.
Thank you again for the participation and long-term support from our lovely wine community. Our next auction will be a LIVE/online event on Tuesday 4th April at Caro’s Wine 14 Mackelvie Street, Grey Lynn from 6pm. The catalogue is now available for viewing. Be sure to subscribe to our newsletter and be the first to know about future auctions. As usual, this auction will be streamed live on auctions.wineauctionroom.com and absentee bids are welcome before and during the auction.