A single bidder won (almost) every Prum lot, as well as many of the other highly desirable lots. I didn’t mean to imply that only one person bid. I meant to imply that one bidder was repeatedly willing to pay more than everyone else. That implies an idiosyncratic valuation by one person rather than a more broad-based belief that the estimates were underpriced.Jeff Leve wrote: ↑June 20th, 2019, 11:00 amHow can you have one bidder? All auctions need at least 2 people bidding to make it past the reserve.A.Gillette wrote: ↑June 20th, 2019, 5:14 amAgain, it was really just one bidder. I wouldn’t take the hammer prices as a sign of anything other than one person of means really wanting just about everything that was offered from 4 or 5 of the producers.
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Tasting notes, varietals, grapes - anything related to wine
I would also add it seemed like it was not a very deep auction of bidders. I watched lot after lot go by at the low estimate then a lot I bid very high on would go one tick past my bid including the aforementioned lot that went close to 300% above the high estimate which was exactly one tick above my bid.A.Gillette wrote: ↑June 20th, 2019, 11:10 am
Ray is correct.R@y.Tupp@+sch wrote: ↑June 20th, 2019, 10:48 amNot really accurate. Of course it depends where you live, but if you live in NYC, then the effective rate is a hair over 35%.
If your sales tax rate is 8.375% the calculation is 24% x 1.08375 which is 34.385%
Sales tax is calculated on not just the hammer, but on the buyer's premium as well.
They will be online in a few weeks. I wrote down hammer by hand live during the sale- so please feel free to PM if you want data for a few specific lots.
ITB - Cellar appraisals
FWIW- I indicated things are on the rise. I get that one's perceptions can exceed what the market will bear- but the fact is that 10-15 years ago if you wanted to sell a lot of German wine the options were very limited. The wines now routinely sell in online auctions and have been increasingly present- albeit at the top levels- at live auction.p. raghib wrote: ↑June 20th, 2019, 10:35 amI'm not sure I agree with you, I generally agree with most of your posts but with Germany it seems that there is literally a handful of producers that bring significant $$. Beyond those producers I believe I am in Mark's camp that my perceived value is far greater than the broader markets. You could buy a myriad of world class wines with 20-40yrs of age on them for maybe $60/btl all in (vig/tax/shipping) and often well below that number.Tom Reddick wrote: ↑June 19th, 2019, 8:59 pm
All in all I would say a solid result and yet another indicator that Germany is again on the rise as a serious collectible- but at the very top levels none of those headline grabbing moments that can instantly set a given winery on fire in the eyes of the investor/collector.
ITB - Cellar appraisals