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News
Prices lower at Nederberg auction but buyers still positive
Average prices went down at this year’s Nederberg auction but there are reasons to remain positive as African markets showed signs of greater interest.
Jan Scannell, Distell’s managing director, was apparently pleased that African buyers made up the greater part of the international collectors this year.
Some 40% of the wines were sold to foreign bidders and of those, 22% came from Namibia, Kenya, Zambia, Tanzania, Mauritius and Ethiopia.
The sale finished on 29 September having achieved 4.6 million rand, down on last year’s ZAR6.1m.
The average case price went from ZAR1,985 to ZAR1,663, a situation put down to “current market conditions”.
Nonetheless, sales of well-known brands such as La Motte, Paul Cluver and Chateau Libertas went well.
A vertical of 12 vintages from Libertas (spanning 1959 to 1970) realised ZAR16,000, a 1964 Pinotage from Lanzerac sold for ZAR6,200 and a 1964 Cabernet Sauvignon also from Lanzerac went for ZAR7,200.
Other highlights included a bottle of KWV 1929 Reserve Port (ZAR8,200) and a KWV 1973 Hanepoot Jerepigo (ZAR600 p/b).
The day’s charity sale raised ZAR157,700 for three projects and included ZAR20,000 paid for a bottle of 1825 Boal Soleira Madeira, which was donated by auctioneer Anthony Barne MW of Bonhams and was bought by Hempies du Toit of Annandale.