PLL was 150 including commish before tax on the later lots. I think they sold about 40 cases. The 20% vig at hdh makes it very easy to calculate prices for full cases!
Acker has the most aggressive estimates in the industry. Burgundy with some age still selling well at all actions, especially the under card. All of my Burg bids at HDH were above low estimates and so far I have been shut out.
Just watched 93 rousseau CSJ go $300 below low estimate. O_O
Vintage label adhered with tape discount/heavily corroded capsule. Trade will usually not touch.
Yes, Provenance matters! I wouldn’t say it’s low at all. And you folks are sounding a bit ridiculous. It’s summer time (officially, today) and markets always go a little soft now. I’m sure if you hang around long enough, you’ll find interesting wines.
Retail is dead at auctions.
My auction is worse than the selection at my corner Binny’s.
I had a question about those multiple lots of 2015 and 2016 wines. Are those from the chateau? From negociants? Is this a pricing strategy? I’ve sometimes noticed much smaller domaines in Burgundy auctioning off multiple lots of wines, maybe 10 cases over the course of 2-3 auctions, from vintages that might just have 50 or 100 cases in total production. And I wondered if that somehow…establishes them in the US market? Avoids some kind of retail-based levies? What’s the financial gain for this kind of activity?
didn’t win anything but was only 1 increment away on some. Not the norm
I didn’t follow all the 2016 Bordeaux, but the 2016 Mouton went for a little less than $600/bottle (including the premium); a little more than what I paid two years ago, but less than the current market. I had my finger hovering, but I didn’t swipe.
The 2016s were going for the low end of the estimates, but the estimates were silly. Why would anyone pay more than retail? It’s not like the provenance is better.
I’d like to know too as it happens all the time.
It’s usually heavy-hitters who have more money than you can imagine. For them, it’s a convenience thing. They usually buy a ton of stuff at once.
My point, to stick with the Mouton example, is that the estimates were wacky. The actual sales price (including premium) was about what I would have expected it to be: slightly less than low retail. But the hammer price was at the low end of the estimate. The high end was $700/bottle. I can call up any number of reputable retailers and get it for less than $700, with basically the same provenance and with OWC. So why pretend the high end is $700/bottle?
estimate relevance varies. Especially the top side
A brief flirtation. Lost on one. Will most definitely lose tomorrow’s lot.
Pingus flew under the radar today… 6xbottles of the 2005 sold for $3,200 plus 20% BP comes to $640/bottle. Currently lowest WS is $925, $1,300. Crazy.
Can we please make a pledge on this board (that goes for you, people who post on commerce corner, as well!) to stop quoting WS for older wines? It’s irrelevant. Most recent auction result was $675 in Christies London earlier this month. So $640 at a venue that also charges sales tax is not at all out of line.
I don’t really get upset or worked up based on prior comments but I’m very confused. Recent Bordeaux or Bordeaux in general isn’t on the same spectrum as Burgundy. They can’t be compared at auction for a number of reasons. Bordeaux has been somewhat stagnant other than the most drinkable rock star vintages. Old Bordeaux has not seen or will see the raise in value as Burgundy has seen. To paint the auction market based on Bordeaux is wrong in that the Burgundy producers are driving the overall money/growth. Most auction houses are having to bid very very hard for the best Burg cellars. What does that mean, they have to guarantee basically the low estimate of all lots and potentially give back 3% of the buyer fee past low estimate. Due to the competition, I have seen many auction houses start the bids at the low estimate which have been the high estimate based upon other auctions. So when a lot hammers at the low estimate, it is actually historically hammering at the high auction. This isn’t every auction house but the low estimate at all is getting higher towards the medium across the board. They can’t afford to give a true low estimate as other auctions houses are guaranteeing significantly higher. Most recent Bordeaux or Burgundy is going to be closer to retail than not. I have bid on 8 Burg lots at HDH last 2 days and all have gone for high estimate or higher. They have all been aged lots. If you are buying current release lots at auction you should probably re think your strategy or be okay if you overpay. If you want to think things are going south you certainly can. It seems to be the easy take as it seems most that are taking this take aren’t actual bidders of blue chip Burgs. Burgundy may be closer to the top than not, but not going down with the momentum as some may hope/want. And if I am wrong, then I guess we all win 
Some auction houses inflate estimates to win consignments.
Yep! This result is completely in line with recent auction results. There are lots of wines where retail offers are completely outrageous in relation to what the price the wine is trading at auction.