HDH Auction Follies - Someone just paid $1,800 for a bottle of 2010 Faiveley Latricieres

In today’s HDH auction follies - I just saw someone pay an extra $1800 (after premium) for one additional bottle of 2010 Faiveley Latricieres.

Two lots - one with 11 and following lot with 12 bottles. First lot hammers for $2,000 - consistent with current market ($181 plus premium per bottle). Second lot (with one additional bottle) subject to energetic bidding war and hammers at $3,500, for a difference of $1,500 or $1,792 after premium over the previous lot.

Amazing stuff. Lots of new bidders (or Type A’s).

2016 Dujac CSD hammered at 6 for 6k + Premium. Crush has it for $850 (+tax, but still).

The 08 rayas went for 1600/bottle with premium. It’s on WS for 1300 and on at least the EMP wine list for a smidge under 1k

Someone just paid $600/bottle for 2000 Cos d’Estournel. That almost $200 above the WS high. I was thinking WTF?

I take it that folks just get FOMO during auctions and don’t necessarily act rationally, right?

Cheers.

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In the case of significant age or significant value, provenance/storage becomes worth a lot. For me, 2000 Cos wouldn’t quite tick that box, but maybe it does for someone? Also, if you really want 2000 Cos, you could call the reputable merchants on WS and probably find one offer with suitable provenance?

Or, yeah, it’s FOMO.

There’s a couple of aspects. One, that someone would spend $600 for a bottle of 2000 Cos d’Estournel, and in a bidding situation, meaning there was at least one other person who was willing to spend nearly that much, too. The second is that someone would spend $600 for a bottle of 2000 Cos d’Estournel. It’s a decent bottle of wine, sure, 91 Parker points: it should be worth about $35-40, plus age premium, so about $50-60.

perhaps this is the work of a ‘cellar advisor’ taking advantage of a client’s lack of knowledge?

In the world of “Fine Art”, criminal syndicates do this sort of thing to launder money.

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Is that the wine version of an interior decorator? “I will stock your cellar with fabulous wines. Cost +15%”

Holy shit, I thought you were joking, but I see it’s true. Not just one bottle, a half a case.

Weirder than the Faiveley Latricieres example which isn’t so hard to understand – a rarer wine and the guy probably just screwed up or missed the boat somehow on the first lot.

sure, but there are also plenty of artists/galleries/collectors bidding up their own work/holdings in addition to a slew of unsophisticated yet over-monied buyers new to the scene who are eager to procure a collection from scratch in 6 months time.

Its in the blood.

Someone just hammered 2009 Chambolle-Musigny, Les Fuees, Jacques-Frederic Mugnier, 6 bottles for a cool $5,000.00. That’s well over $996.00 per unit! (with buyers %) Crap, Amoureuses can be found for about that price. Is there no limit to this madness??? Burgundy seems to have virtually no celling.

Then that would be the work of 2 cellar advisors, as you have to have at least 2 people bidding to achieve these prices…

That was a great price on the Rayas. It was a huge Rayas collection, I’ve never seen that much go up at once.

For the guy who was wondering where was all the aged Burgundy…it’s at auction as people try to make a buck or two.

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All the aged burgundy is just cycling between accounts at Domaine in NJ. Reminds me of a HS visit to the Federal Reserve Bank where we watched people wheel barrel gold bars from one country’s shelf to another.

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LOL that’s hilarious.

I have noticed a lot of Bordeaux going in the lower half of the estimate, or even some at the minimum bid for less celebrated wines from off vintages. Even the very high end Bordeaux is often going for market level prices (e.g. perfect case of 2009 Cheval Blanc for $950/bottle, right around Winesearcher low and well below max estimate). I think people have gotten the memo that Bordeaux is simply not a scarce commodity. Of course there are a few weird outliers like that 2000 Cos mentioned above.

One case of 98 Haut Brion went for $10K and the other for $7K. Pretty wide spread there, which also makes me think people aren’t looking at this too carefully!