Personal Collection of Rudi Weist @ Acker

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A.Gillette
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Re: Personal Collection of Rudi Weist @ Acker

#51 Post by A.Gillette » June 20th, 2019, 11:10 am

Jeff Leve wrote:
June 20th, 2019, 11:00 am
A.Gillette wrote:
June 20th, 2019, 5:14 am
Mark Golodetz wrote:
June 20th, 2019, 5:11 am
I mentioned before that when I was sending wines to auction, estimates were far too low given my perception of value.
Again, 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.
How can you have one bidder? All auctions need at least 2 people bidding to make it past the reserve.
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.
Alex

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Robert Dentice
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Re: Personal Collection of Rudi Weist @ Acker

#52 Post by Robert Dentice » June 20th, 2019, 11:28 am

A.Gillette wrote:
June 20th, 2019, 11:10 am
Jeff Leve wrote:
June 20th, 2019, 11:00 am
A.Gillette wrote:
June 20th, 2019, 5:14 am


Again, 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.
How can you have one bidder? All auctions need at least 2 people bidding to make it past the reserve.
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.
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.

p. raghib
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Joined: June 8th, 2009, 11:49 am

Re: Personal Collection of Rudi Weist @ Acker

#53 Post by p. raghib » June 20th, 2019, 11:54 am

R@y.Tupp@+sch wrote:
June 20th, 2019, 10:48 am
A.Gillette wrote:
June 20th, 2019, 10:36 am
p. raghib wrote:
June 20th, 2019, 10:30 am


Not to be argumentative, but I believe you have to add in 32.375% rather than 37%. I'm pretty sure their vig is 24%+8.375% sales tax.
My mistake. I thought the vig was 28%.
A
Not 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.
Ray is correct.
cheers'

-paul r.

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M.Kaplan
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Re: Personal Collection of Rudi Weist @ Acker

#54 Post by M.Kaplan » June 20th, 2019, 12:25 pm

Anyone have a link to the auction results?
---Mark

Tom Reddick
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Re: Personal Collection of Rudi Weist @ Acker

#55 Post by Tom Reddick » June 20th, 2019, 3:23 pm

M.Kaplan wrote:
June 20th, 2019, 12:25 pm
Anyone have a link to the auction results?
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

Tom Reddick
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Re: Personal Collection of Rudi Weist @ Acker

#56 Post by Tom Reddick » June 20th, 2019, 11:19 pm

p. raghib wrote:
June 20th, 2019, 10:35 am
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.
I'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.

-paul
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.
ITB - Cellar appraisals

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M.Kaplan
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Re: Personal Collection of Rudi Weist @ Acker

#57 Post by M.Kaplan » June 21st, 2019, 9:29 pm

A group of friends, including me, placed an above high estimate bid on a Zilliken lot and got smoked.
---Mark

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