+1
hand-made backgammon boards might be limited by a resource extraction curve of “peak tree harvesting”?
No reasonable definition of luxury goods would exclude expensive wine; how it comes by its rarity is irrelevant. Of course I agree that more people with more money will keep upward pressure on prices, but great wine isn’t expensive just because it how it tastes; a part of the high price is because “luxury goods” also go through fashion cycles – expensive wine is up now (very fashionable), and might remain so until the end of time, but it might not.
And, really, the issue isn’t why prices are high, it’s whether they’ll continue to increase at a rate that makes paying well in excess of auction estimates a good investment (i.e. you’ll make out when you sell), ad infinitum.
And as for Miami Beach real estate:
“At the spring and fall high tides, we get flooding of coastal areas,” said Leonard Berry, the director of the Florida Center for Environmental Studies. “You’ve got saltwater coming up through the drains, into the garages and sidewalks and so on, damaging the Ferraris and the Lexuses.”
Part II prices were much softer I thought…
Los Angeles v New York I guess?
Maybe. And/or maybe people didnt bother showing up this time because last time was so insane. Or no one had any money left after the first round 
Overall, it looked pretty healthy to me. '04 Burgundy, which I wouldn’t touch with a 100 foot pole, predictably went on the lower end. Perhaps one lot of the bunch I might have truly been interested in. Everything else was too rich for my blood.
I ended up buying a couple of lots, and sharing one. The prices the first day seemed in line with NY, but on the second, they were more in line with normal auction without the Welland premium.
That being said, Wally’s should congratulate themselves, as a successful sale would mean that they were able to market the collection so that people paid over the odds for the Welland provenance. I think they succeeded admirably.
Adding Wally as one of the top players makes the auction houses to really compete for their market shares. The LA auction seems relatively reasonable especially if you were not shooting for the most desired producers. I got shut out on Comte Liger Belair.
I got shut out on the old Huet.
Yes, they even sold the ghastly Ponsot CDRs
I only bid on one lot. A Liger Belair that went for over 40 percent the high estimate.
I normally avoid these super sales as I rarely win anything.
Hope it works out for buyers. ![[shrug.gif]](/uploads/db3686/original/2X/4/48636ebda2a440a43ad8d24c83be20ac20c53420.gif "shrug"){kind=small}
Quite a bit of money for potentially bad wine.
I just checked the burg prices. Some hefty stuff. LB 08 ech for almost a grand a bottle ? Mags of the 05 Reignots for over $1600. 07 la Tache for $2k.
Nick,
It may sound totally crazy but this is the new norm, IMO for Louis Michel’s wine and DRCs. The 11 La Romanee was the bargain but I didn’t pull the trigger. I think there is a bit more leg still, so little wines made compare to Bordeaux.
I think Peter Hersch’s strategy makes a lot of sense, if you are a drinker.
Before Burghound was born there was no question of allocation for DRC, Roumier and Rousseau.
Then after Meadows kept on writing and reporting the results of his comparative tastings including Chambertin and Musingy, one needs to have allocations … or lots of money and passion to buy them in the secondary markets.
For the last 2 years, Dujac is increasingly becoming the new Rouminer and Rousseau.
In the next 2 to 3 years, watch out for the high-end reds from Faiveley.
Well Liger Belair, isn’t he an owner of a Monopole g-cru in Vosne ?
We, as burgundy lovers, should listen to him about buying more and more of the 2005. I did listen and follow what he did.
That beign said, I used to have no problem openning Musigny and Montrachet incuding from vintage 2005.
But lately, with the increase of price, specially all the 2005, I now only drink Mercurrey and Marsanney or perhaps a CdBeze by D-Laroze instead of a CdBeze by Rousseau.
What I meant is : I used to drink high end fine Burgundy wines, now I drink low end burugndy wine. One thing still good, they are not bad wines… ![[wink.gif]](/uploads/db3686/original/2X/0/04707e6a7bbb03e0153e349d8a9270d30e1e9525.gif "wink"){kind=small}
Press release for Welland part 2FOR IMMEDIATE RELEASE
LOS ANGELES, Tuesday, November 25, 2014 – Wally’s Auctions celebrated its inaugural Los Angeles auction, The Roy Welland Collection Part II, to much fanfare on Friday, November 21 and Saturday, November 22. Friends, movie stars and celebrity chefs joined in the fun at the SLS Hotel at Beverly Hills for this two-session auction: Jose Andrés flew in to provide dinner on Friday evening (and even participated in the auction!), Wally’s owners Armand Marciano, Maurice Marciano, Paul Marciano and Christian Navarro hosted their friends and clientele, and Veuve Clicquot kept the Champagne flowing throughout the sale. All of the glamour aside, over 350 bidders got down to business and clamored for Part II of the incredible Roy Welland Collection, resulting in the largest wine auction from a Los Angeles company in history. 97.7% of the 1,633 lots sold, overtaking the pre-sale estimates of $3, 651,810 - 5,488,953 for a total of $5,568,048. The Roy Welland Collection Parts I and II combined for a total of 3,400 lots achieving $12,166,836.
The Roy Welland Collection Part II was organized by producer, large caches from the greatest winemakers representing regions around the world. Important producer offerings included:
• 24 lots of J.F. Coche-Dury estimated at $41,750-62,900 sold for $91,800
• 19 lots of Domaine Rene Engel estimated at $27,200-40,300 sold for $73,080
• 103 lots of Domaine Leflaive estimated at $198,850-298,840 sold for $310,992
• 24 lots of Domaine Leroy & D’Auvenay estimated at $171,450-254,500 sold for $259,980
• 81 lots of Domaine de la Romanee Conti estimated at $403,600-605,200 sold for $675,600
• 46 lots of Domaine du Comte Liger Belair estimated at $229,750-343,800 sold for $441,840
• 16 lots of Emmanuel Rouget estimated at $66,000-98,750 sold for $100,800
• 72 lots of Domaine Armand Rousseau estimated at $283,240-421,480 sold for $517,200
• 49 lots of E. Guigal estimated at $90,850-134,900 sold $163,860
• 8 lots of Sassicaia estimated at $14,000-20,900 sold for $23,040
• 7 lots of Vega Sicilia Unico estimated at $15,000-22,800 sold $29,640
• 9 lots of Domaine Robert Arnoux estimated at $12,000-18,000 sold $23,100
• 11 lots of Domaine Huet estimated at $12,100-17,960 sold for $19,188
Vosne Romanee heavyweights Domaine de la Romanee Conti and Domaine du Comte Liger Belair showed off their star power in Friday evening’s session, with jaw-dropping prices on the deep offerings, especially the banner 2002 and 2005 vintages. Eighty-one lots of Domaine de la Romanee Conti estimated at $403,600-605,200 sold for $675,600 and forty-six lots of Domaine du Comte Liger Belair estimated at $229,750-343,800 sold for $441,840.
Highlights included:
During Saturday’s session, Domaine Armand Rousseau dazzled the eager auction room and online bidders with a section of seventy-two lots estimated at $283,240-421,480 achieving a total of $517,200. The domaine’s flagship wines, Chambertin Clos de Beze, Chambertin and Gevrey Chambertin Clos St Jacques, achieved jaw-dropping results, including:
Always considered among the top white wines in the world, Domaine Ramonet reached new heights with all-time high prices on several vintages of Montrachet on Saturday morning:
Domaine Rene Engel was represented by only nineteen lots, but this small section catapulted the domaine to superstar status. The entire parcel was estimated at $27,200-40,300 and sold for a total of $73,080, with most lots doubling or tripling pre-sale estimates. Highlights included:
The Roy Welland Collection continues via a retail offering at Wally’s Los Angeles location, as well as a further auction selection in The December Auction on December 12 & 13 in New York. For more information and for press inquiries contact Wally’s Auctions at auction@wallywine.com or 1-800-277-0387.
Wally’s Auctions President and Chief Executive Officer Michael Jessen commented, “We could not be more thrilled with the successes of The Roy Welland Collection Parts I and II. The Wally’s auction team has endeavored from day one to be the auction house of choice for the most important collections in the world, and with The Roy Welland Collection we have made significant steps towards that goal. Combined auctions of over $12 million exceeds our highest aspirations for this collection, and we are overjoyed that it resonated with our clientele in such an incredible way. Our debut Los Angeles auction was a blast, and we are already planning the next one!”
PART 2 of 2: WALLY’S HOMETOWN DEBUT THE ROY WELLAND COLLECTION PART II ACHIEVES $5.6M
NOTABLE WORLD RECORDS AND TOP LOTS
Notable World Records Achieved in The Roy Welland Collection Part II:
• Corton Charlemagne J.F. Coche-Dury 2004 - $2,880 per bottle (Lot 2081)
• Meursault Perrieres J.F. Coche-Dury 1986 - $2,400 per bottle (Lot 2085)
• Meursault Perrieres J.F. Coche-Dury 1990 - $2,640 per bottle (Lot 2086)
• Meursault Perrieres J.F. Coche-Dury 1999 - $2,160 per bottle (Lot 2088)
• Meursault Perrieres J.F. Coche-Dury 2000 - $1,920 per bottle (Lot 2089)
• Meursault Perrieres J.F. Coche-Dury 2002 - $2,880 per bottle (Lot 2090)
• Ch evalier Montrachet Domaine Leflaive 1992 - $1,200 per bottle (Lot 2138)
• Chevalier Montrachet Domaine Leflaive 1999 - $1,680 per magnum (Lot 2139)
• Montrachet Domaine Ramonet 2000 - $2,200 per bottle (Lot 2831)
• Montrachet Domaine Ramonet 2001 - $1,600 per bottle (Lot 2832)
• Clos de la Roche Cuvee Vieilles Vignes Domaine Ponsot 2002 - $720 per magnum (Lot 3129)
• Musigny Blanc Domaine Comte Georges de Vogue 1983 - $900 per bottle (Lot 3419)
• Musigny Blanc Domaine Comte Georges de Vogue 1991 - $1,560 per bottle (Lot 3420)
• Musigny Blanc Domaine Comte Georges de Vogue 1993 - $550 per bottle (Lot 3421)
• Chateauneuf du Pape Hommage a Jacques Perrin Chateau de Beaucastel 198 9 - $1,440 per bottle
(Lot 2580)
• Chateauneuf du Pape Hommage a Jacques Perrin Chateau de Beaucastel 1990 - $1,680 per bottle
(Lot 2581)
• Riesling Clos Ste Hune Vendanges Tardives Trimbach 1989 - $274 per half bottle (Lot 2588)
This seems insane:
Lots 2363-2365 12 bottles La Romanee Domaine du Comte Liger Belair 2005 Estimated $24,000-36,000 SOLD $44,400 (world record)
Until you see this:
Lot 2282 3 bottles Romanee Conti Domaine de la Romanee Conti 2005 Estimated $30,000-46,000 SOLD $43,200
Which puts everything in perspective. Is DRC RC 4x as good as Liger Belair La Romanee? I can tell you that I’d rather have the case of wine in order to find out! (But then again, for $44k, I’d rather have a lot of things…)
Scott,
The 05 La Romanee has been trading around $3500 and the 05 RC was as high as $20k so the price is in line.
Other than Faiveley, Leroy and Roumier musigny, La Romanee is now the second most expensive red Burgundy, slightly higher than La Tache. It is a great wine though, more impressive than DRCs upon release as no stem note.
I am not saying in anyway that any of this makes sense. The 85 RC was $150-200 per bottle. I was offered the 87 RC for $250 but I refused.