Staggering
bouncing back? Could be bad news for the wine world (if you want to get old(er) stuff.
Imperials of 2000 Mouton just went for $19k each hammer
Christ.
Pretty insane numbers on things for sure.
I just threw up.
Until all the markets show like that, it means nothing.
Todd,
That is not necessarily true.
The auctions in the US have been very strong in September as well. Not like HK, but still strong.
Todd,
It means a lot. To add to what Dan said, not only have the US auctions had strong September results, but these HK results will bring back the London brokers to the upcoming US auctions in an aggressive manner and the domestic results will be even stronger.
I’ll disagree.
One strong auction like this could easily have been staged, with some key buyers working to artificially inflate the market, to protect their own collections that they plan to keep or sell.
I could very well be wrong, but I wouldn’t give any credence to it until it happens at least once more, in a different market. Not just ‘okay’, but similar in results. I worked in the auction industry for 3 years (not wine) with an international house as well - one sale does not a market make, folks…
Couple cases of 89 Mouton for about $7750 w/o vig is nuts.
Todd,
HDH and Zachy’s last domestic sales finished above the high estimate. While not as strong as Sothebys HK, those results are better than “OK”
Acker’s last sale was 100% sold, which is highly unusual for them.
Christies London sale a couple of weeks ago was also VERY strong.
While I don’t expect last night’s results to be the new barometer, it appears that Nov’08-Mar’09 prices for wine are gone. At least for the time being.
Ray, what do you think the likelihood is that results are being propped-up by a scenario like that suggested in the Koch lawsuit (a handful of buyers systematically buying and selling to inflate results)?
You got some pretty sweet deals the other day at Morrells, bud…
That’s because many people don’t buy at Morrell’s due to less than stellar experiences with them.
Considering the highest prices are being attained for first growths which have oceans of quantity compared to some other sectors, it doesn’t seem likely to me.
I am finding that the strong lots at auction have been fairly selective though. Seems like new world wines and Tuscan wines aren’t fairing well. True?
Burgundy and Barolo are just getting out of sight though.
True on Bordeaux. Some Burgs are high, most are selling for dirt.
Mmmmm…Lamarche.
You’ve seen the Lamarche in live auctions? Or just on line?
The wine auction market has definitely become bifurcated.