Huge Prices at Roy Welland auction: press release

I hesitated to post this a) because it is pretty long and b) I did not want to add to the upward pressure on current pricing. But the range of wines is staggering, and as collections go, I don’t think there is anything likely to come onto the market so I think this will give you an idea of where the market is currently, and where it is heading.

Disclaimer.
Also, although I consider some of the people at Wallys friends, and I have consigned a few lots with them, I am not connected to the house yada yada yada.


The Roy Welland Collection Part I totaled $6,598,788, versus pre-sale estimates of $3,572,040-5,346,090.

The Roy Welland Collection Part I was organized by producer, with many sections representing the largest cache of a Domaine’s wine ever sold at auction. Important producer offerings included:

 • 55 lots of Domaine Bachelet estimated at $106,260-162,850 sold for $216,480.
 • 40 lots of Domaine Sylvain Cathiard estimated at $88,150-132,300 sold for $174,540.
 • 196 lots of Domaine G. Roumier estimated at $500,450-746,340 sold for $882,468.
 • 89 lots of Giacomo Conterno estimated at $231,400-343,600, featuring an extensive selection of
  Barolo Cascina Francia and Barolo Monfortino Riserva vintages, sold for $404,400.
 • 48 lots of Vincent Dauvissat estimated at $57,100-84,300 sold for $124,980.
 • 46 lots of Dujac estimate d at $173,500-259,000 sold for $408,360.
 • 102 lots of Domaine Roulot estimated at $99,550-146,500 sold for $206,520.
 • 42 lots of Krug estimated at $185,300-276,500 sold for $326,400.

The Roy Welland Collection’s sheer depth in Mr. Welland’s favorite producers and vineyards resulted in a multitude of parcel bidding opportunities for savvy buyers seeking multiple cases of the same wine. Nine dozens of Charmes Chambertin Vieilles Vignes Domaine Bachelet 2005 sold for $8,400 each, versus pre-sale estimates of $3,800-6,000 (Lots 17-25). From Jacques Frederic Mugnier, three full cases of Musigny 1996 went for $14,400 per lot (Lots 143-145), three full cases of Musigny 2001 achieved $11,400 each (Lots 153-155), and three full cases of the ultra-coveted Musigny 2005 sold for $34,800, $33,600, and $32,400 (Lots 159, 160 and 161, respectively). T he price for bottles of Bonnes Mares Domaine G. Roumier 2005 held strong at $19,200 per dozen, as five lots of it sold at that level (Lots 197-201). A twenty-three lot parcel of Chambolle Musigny Les Cras Domaine G. Roumier 2004 full cases all found buyers, with prices ranging from $1,920 to $1,680 per case (Lots 242-264).

Saturday, September 13 began with a frenzy, as buyers in the room battled against phone bidders, the internet and a daunting roster of absentee bids for over 200 lots of Domaine Francois Raveneau’s exquisite Chablis. The Raveneau collection, estimated at $269,900-$403,150, ultimately sold for $623,040.




Lots 1369 through 1377 of Saturday’s session established Herculean prices for Chambertin Domaine Dujac Fils et Pere 2005, the first vintage of a wine produced by Domaine Dujac after Mr. Welland purchased a 0.3 hectare parcel of Chambertin. Three dozen bottles and six six-packs of magnums came across the auction block with all nine lots selling for $26,400 each, the equivalent of $2,200 per 750ml bottle.

The Roy Welland Collection Part II will take place at the SLS Hotel at Beverly Hills on November 21 and 22. The auction, which will be Wally’s Auctions’ Los Angeles debut, consists of an evening session on Friday beginning at 5:00PM PT and a full day session on Saturday beginning at 9:00AM PT. Featured producers in Part II include Dom Perignon, Krug, J.-F. Coche Dury, Comtes Lafon, Domaine Leflaive, Domaine Ramonet, Domaine de la Romanee Conti, D omaine Leroy, Domaine d’Auvenay, Liger-Belair, Meo-Camuzet, Domaine A.F. Gros, Domaine Armand Rousseau, Guigal, and Jaboulet. For more information, contact Wally’s Auctions at auction@wallywine.com or 1-800-277-0387.

Notable World Records Achieved in The Roy Welland Collection Part I:

Burgundy
• Musigny Jacques Frederic Mugnier 1988 - $1,200 per bottle (Lot 139)
• Chambolle Musigny Les Amoureuses Domaine G. Roumier 2005 - $4,400 per bottle (Lot 221)
• Chablis Les Clos Vincent Dauvissat 2008 - $280 per bottle (Lots 1137-1141)
• Vosne Romanee Les Petits Monts Joseph Drouhin 2005 - $330 per bottle (Lot 1277)
• Chambertin Domaine Dugat Py 2004 - $1,680 per bottle (Lot 1334)
• Bonnes Mares Domaine Dujac 2005 - $1,440 per bottle (Lot 1367)
• Clos Saint Denis Domaine Dujac 1999 - $1,020 per bottle (Lot 1391)
• Clos Vougeot Domaine Georges Mugneret 2 005 - $550 per bottle (Lot 1491)

Rhone
• Chateauneuf du Pape Reserve des Celestins Henri Bonneau 1989 - $1,600 per bottle (Lot 682)
• Chateauneuf du Pape Reserve Chateau Rayas 1986 - $560 per bottle (Lot 705)
• Cote Rotie Cote Brune Gentaz Dervieux 1982 - $2,400 per bottle (Lot 712)
(Highest Price Ever Paid For Any Bottle of Gentaz Dervieux At Auction)
• Hermitage Domaine Jean Louis Chave 1989 - $1,520 (Lot 716)
• Ermitage Cuvee Cathelin Domaine Jean Louis Chave 2003 - $3,600 per bottle (Lot 754)

Champagne
• Krug Brut 1988 - $2,000 per magnum (Lot 1604)
• Krug Brut 1996 - $1,300 per magnum (Lots 1619 & 1620)

Germany
• Riesling Auslese Goldkapsel Wehlener Sonnenuhr J.J. Prum 1949 - $1,920 per bottle (Lot 1687)
• Riesling Auslese Graacher Himmelreich J.J. Prum 1971 - $520 per bottle (Lot 1689)

Italy
• Barolo Cascina Francia Gi acomo Conterno 2004 - $560 per magnum (Lots 822 & 823)
• Barolo Monfortino Riserva Giacomo Conterno 1978 - $2,640 per bottle (Lot 840)
• Amarone della Valpolicella Classico Giuseppe Quintarelli 1995 - $640 per bottle (Lot 886)
• Barolo Falletto di Serralunga Riserva Bruno Giacosa 1989 - $1,700 per bottle (Lot 1752)
• Barbaresco Santo Stefano di Neive Riserva Bruno Giacosa 1985 - $2,400 per bottle (Lot 1748)

Spain
• Lopez de Heredia Vina Bosconia Gran Reserva Rioja 1947 bottles - $768 per bottle (Lot 1715)


Wally’s Auctions President and Chief Executive Officer Michael Jessen commented, "The Roy Welland Collection is a once-in-a-generation collection, and the wine world has responded accordingly. The results from Part I’s auction are staggering, and a reflection of how important this collection truly is.

I suppose too, that bidders have confidence in the provenance of the wines…

There is so much stupid in these pricing.

• Clos Saint Denis Domaine Dujac 1999 - $1,020 per bottle (Lot 1391)

what?

Well, it IS Wally’s we’re talking about! It was marketed toward a certain crowd.

Did you see the catalog? A lot of money went into that alone.

you can armchair quarterback the results all you want, but there were so many lots in this auction that cannot be replicated. it wasn’t ubiquitous bordeaux, it was the best of the best of burgundy, etc. tons of solid cases of great wines. that just doesn’t come up at all. there’s a very good argument to make that many of these lots are actually great investments for future auctions - which i assume is/was the strategy for many of the buyers.

It was very good Burgundy, but in this sale, few outright gems. I think quantity and provenance made it extraordinary, but as pricing for most wines were higher than usual, the market will need a while to catch up. Also, there was a huge number of very recent vintages that sold well, and therefore are pretty much the same as all the wines for sale at every other auction.

I suspect wines from the Welland cellar will sell for a small premium over other wines, but as there were so few older wines compared to something like the Graham Lyons cellar, which were very expertly sourced, I doubt whether the Welland cellar provenance will have as much impact.

At some point prices have to hit some sort of ceiling, don’t they? Or has the fine wine market invented a perpetual motion machine?

People been saying this for decades…

How many folks are going to have adjust those Cellartracker valuations? Oy vay!

Around two decades; prices seemed to begin their ascent with the '95s, or so it seemed at the time.
But a lot of people thought housing prices could only go up.

No kidding. I was shocked at the production value in the “boxed-set” catalog I got. I wonder how much that thing cost per customer $20?

Been to Miami Beach lately? The '08-'09 period is now a distant memory. Prices going higher every day, well up from the '07 highs. Same for Manhattan and I’d guess many other places. Yes the overbuilt shitbox development has never recovered, but ‘quality’ marches ever higher. I assume the same for wine. Great bottles from great producers, made in limited supply will continue to outpace the general level of inflation forever…

Agreed. Like waterfront property the top ten producers will always retain value. The problem is when the next 50 try to follow.

I kept that box for storage purposes lol

It is a nice box, lol, almost as study as the Nez du Vin case.
Reminds me, should ask my friend for it back, haha.
Wouldn’t be surprised if it all cost that much per client.

Or when sea levels rise two feet, or when 60 Minutes does a piece on red wine causing testicular cancer, or… whatever. I agree about the historical record of luxury product pricing, but things can change. How many people paying big money for hand-made backgammon boards these days (all the rage in the early Eighties)?

I got rid of my barbells and now use that.

Exactly. But DRC and Rousseau have been highly priced for decades.

fine wine isn’t a luxury good, especially burgundy - which is really the subject of the Welland auction. it isn’t artificially rare like diamonds or Prada. Burgundians would make more Chambertin, etc., if they could - they cannot. At the same time, more people in the world are into wine.