A case of Chateau Petrus 2009 Pomerol carrying an upper estimate of $40,000 is top lot at a Christie’s International Plc auction in New York on May 30-31, along with Bordeaux first-growth producers and La Tache Burgundy.
A case of Chateau Lafite-Rothschild 1982 is priced at as much as $40,000. A 16-bottle lot of wines from the 2000 vintage, comprising four each of Petrus, Chateau Latour, Chateau Margaux and Chateau Haut-Brion, is estimated to fetch as much as $30,000, according to Christie’s online catalog.
Investor demand has revived this year after a 17-month price slide which started in July 2011, boosting the Liv-ex Fine Wine 50 Index by 8 percent since November. The index fell in April and early May after posting four straight monthly gains as merchants focused on the pricing of Bordeaux 2012 futures, known as en primeur wines. It has still risen 5 percent in 2013.
“The en primeur season ends this week, so I think we’ll get back to normal,” Miles Davis, partner in London-based Wine Asset Managers LLP, with $20 million under management, said in a phone interview. “If merchants want to make money, they’ll start to peddle older vintages again.”
A six-bottle lot of La Tache 1990 Domaine de la Romanee-Conti Burgundy carries a top estimate of $24,000 while a magnum of the 1962 vintage from the same vineyard carries the same price tag. A 12-bottle case of Chateau Latour 1959 also has the same upper estimate.
Petrus has figured in auctions earlier this month. A case of the 1982 vintage fetched top price at a Christie’s auction in London, selling for 35,100 pounds ($54,500) including fees.
Here is a list of global wine auctions scheduled so far this year. Dates may be subject to revision, and links are to auction house sale catalogs and websites.
MAY: May 30/31: Christie’s, New York May 31: Acker, Merrall & Condit, Hong Kong JUNE: June 1: Acker, Merrall & Condit, Hong Kong June 6: Christie’s, London June 8: Sotheby’s, New York June 13/14: Zachys, New York June 28: Christie’s, Paris June 29: Acker Merrall & Condit, New York June 29: Hart Davis Hart, Chicago JULY: July 11: Bonhams, London July 17: Sotheby’s, London July 27: Bonhams, San Francisco SEPTEMBER: Sept. 6/7: Zachys, Hong Kong Sept. 7: Acker Merrall & Condit, New York Sept. 11: Sotheby’s, London Sept. 12: Christie’s, London Sept. 12: Bonhams, London Sept. 13/14: Acker Merrall & Condit, Hong Kong Sept. 14: Bonhams, San Francisco Sept. 21: Hart Davis Hart, Chicago OCTOBER: Oct. 11: Christie’s, New York Oct. 23: Sotheby’s, London Oct. 24: Bonhams, London Oct. 24: Christie’s, London Oct. 26: Hart Davis Hart, Chicago NOVEMBER: Nov. 13: Sotheby’s, London Nov. 23: Bonhams, San Francisco DECEMBER: Dec. 7: Hart Davis Hart, Chicago Dec. 12: Bonhams, London
To contact the editor responsible for this story: Mark Beech at firstname.lastname@example.org