21 Jul Report on Winter Online Auction & Announcing Next Live Auction
As we publish the catalogue for the virtual/live auction on August 1st, you may want to read what’s been happening in the auction scene to help you prepare your bids. Fine wine markets continued to go through a corrective period during the second quarter of 2023. However, the downturn must be kept in perspective; fine wine is a long-term investment, and prices are still far higher than they were just a few years ago. For those with a long-term horizon, the current dip may open up more attractive buying opportunities.
Our Winter Online auction closed on Sunday, July 02 received progressive interests and waved bidding activities, potentially summing up two major buying strategies lately: a more cautious buying mindset reflecting current economic circumstances while quite some others see a falling market brings great buying opportunities.
In this auction, there weren’t that many “unicorns” reaching new record prices though the majority of the lots, which were entry to medium-tiered wines, held very solid prices. The biggest hammer win went for 2002 Tenuta San Guido Sassicaia magnum at $1175, followed by 1960 Chateau d’Yquem at $1081.
All Syrah dominated, 2003 E. Guigal La Mouline and 2005 Craggy Range Le Sol 5 litre sold for the same price at $940 while 2006 E. Guigal La Turque sold for $470.
For Bordeaux blends, 2004 Penfolds Bin 60A sold for $893 and 2003 Chateau Pavie reached $470, while 2010 Chateau Pontet Canet sold for $423 and 2006 Destiny Bay Magna Praemia achieved amazing $376.
From Burgundy and beyond, 2008 Domaine JF Mugnier Nuits St Georges Clos des Marechale 1er Cru, 2005 & 2009 Maison Capitain Gagnerot Echezeaux Grand Cru all sold at the same price of $235 while 2013 Felton Road Block 5 and 2012 Domaine Bruno Clavelier Nuits St Georges Aux Cras 1er Cru both sold for $176.25. 2019 Louis Jadot Domaine Duc de Magenta Puligny Montrachet Clos de la Garenne 1er Cru sold for $211.50, followed by 2020 Domaine Jacques Carillon Puligny Montrachet at $152.75.
Other highlights include 2007 Egon Muller Scharzhofberger Riesling Spatlese sold for $293.75, 2002 Sierra Cantabria Amancio reached $211.50 and 2019 Prophet’s Rock Cuvee Aux Antipodes Blanc achieved $99.875.
All prices include Buyers Premium but exclude GST.
Thanks again to all of our bidders, consignors, and friends from the lovely wine community for your continuous support.
Our catalogue is available online for our next auction, scheduled for August 1st from 6pm. This is a Virtual Live/Online auction, so whilst the sale room will be closed, you can join the excitement online, on the phone, or by placing your absentee bids early (a recommended tactic). Place your absentee bids today via auctions.wineauctionroom.com
**
For those who just want to grab a few bottles of something nice on the go, don’t forget to check out the latest arrival to our everyday retail selection at www.wineretailroom.co.nz. Apart from our carefully curated wine selection, we also offer niche whisky, premium glassware and harder-to-find wines. Our boutique selection offers items to suit all tastes, pockets and occasions.