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Friday 25 April 2014

Burgundy leads the way in NY and London

10th December, 2013 by Rupert Millar

Burgundy’s winning run at auction continued unabated last week with the region topping the charts in London and New York.

6.BurgundyBoth Bonhams and Sotheby’s held auctions at the end of last week and last weekend respectively.

As Sotheby’s auction was dedicated to Burgundy it is perhaps no surprise that th region performed quite so well.

The sale was held in New York on 7 December and realised US$2.4 million, with buyers from Brazil purchasing 10% of the lots.

Domaine de la Romanée-Conti and Armand Rousseau were the leading properties, with six bottles of 2009 DRC Romanée-Conti making $79,625, a little short of the $90,000 high estimate.

La Tâche 2009 and 2007, Montrachet 2008 and Richebourg 2009 also featured for DRC.

A South American buyer was among the top bidders for a case of 2009 Rousseau Chambertin, which was bought for $14,700.

Duncan Sterling, Sotheby’s head of New York wine auctions, said: “The remarkable result showed the growing global appreciation for Burgundy’s top appellations and best producers, with a full saleroom chasing some of the rarest wines in the world.

“Rarest Burgundy with peerless provenance continues to achieve record prices in New York, with Roumier, Rousseau and Mugnier joining DRC in being the most sought after Domaines, particularly for their older vintages.”

Meanwhile back in London, Bonhams conducted a sale with a wider range of wines and still Burgundy came out on top, a case of the irrepressible DRC making £94,000 (for 1988 Romanée-Conti).

A 1996 assortment, 1999 Echezeaux and 2004 Romanée St Vivant also sold well. Another auction favourite, Henri Jayer, cropped up with cases of the 1988 and 1994 Echezeaux making £21,150 and £18,800 respectively.

Also for sale were Ridge Monte Bello, 1985 Bollinger Vieilles Vignes, 1988 Salon, 1990 Pétrus, 1945 Mouton Rothschild and 1947 Cheval Blanc.

The sale made almost £1.2m in the two days.

Richard Harvey MW, international head of wine at Bonhams commented: “This was a wonderful result for our first sale in our magnificent new salerooms. The majority of wines on offer came from private collectors, many on the continent, showing that buyers are willing to pay top prices for stock with excellent provenance.”

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