No cooling off for DRC
Demand for Burgundy’s DRC will be tested at Sotheby’s next week, and despite the eye-watering sums involved the auction house remains confident
Once again Domaine de la Romanée-Conti will play the prima donna in Sotheby’s next London auction on 25 March, led by a six pack of Romanée-Conti 1993 DRC with an upper estimate of £44,000, followed by La Tâche 2009 DRC, estimated at £24,000 – 32,000.
Only last month, Zachy’s knocked down 165 lots of the same wine in a two day sale in New York on 26 – 27 February. DRC accounted for nine of the top ten hammer prices led by a 12 bottle assortment of DRC 1990 which sold for US$67,375.
The Burgundian superstar shows little sign of slowing down according to Stephen Mould, head of Sotheby’s European wine department.
“I guess there will be some sort of limit to what people are prepared to pay, but at the moment there doesn’t seem to be any real cooling off,” he told the drinks business. “To my mind, and what’s reported in the press, there still seems to be a very good interest in it.”
Given the trickle produced, there is no danger of DRC flooding the market, and as Mould pointed out: “It never went through that crazy period as Lafite did when prices were going up exponentially.”
In the forthcoming sale interest in DRC is expected to be strongest in Asia which typically accounts for 40% of Sotheby’s London sales, with 50% bought by British buyers and the rest split around the world
For disappointed bidders or those who can’t quite stretch to the dizzying heights of DRC, there are plenty of other Burgundies in the Sotheby’s sale, including Dujac’s Bonnes Mares and Clos de la Roche and Armand Rousseau’s Clos St. Jacques.
Mould is also taking keen interest in the prices achieved by de Vogüé and Domaine Ponsot, and white Burgundies like Coche-Dury. “They’re all barometers of demand,” he said.