Romanee-Conti Tops Acker’s Hamptons Auction With Lafite

Photographer: Chip Chipman/Bloomberg

Casks of aging wines at the Harlan Estate Winery's cellar in Oakville. Seven half-cases of the Estate's Red from California's Napa valley spanning the vintages from 1991 to 1997 fetched $29,520 at an Acker Merrall & Condit wine auction in Bridgehampton, New York on June 29. Close

Casks of aging wines at the Harlan Estate Winery's cellar in Oakville. Seven half-cases... Read More

Close
Open
Photographer: Chip Chipman/Bloomberg

Casks of aging wines at the Harlan Estate Winery's cellar in Oakville. Seven half-cases of the Estate's Red from California's Napa valley spanning the vintages from 1991 to 1997 fetched $29,520 at an Acker Merrall & Condit wine auction in Bridgehampton, New York on June 29.

Two magnums of Romanee-Conti 1988 Domaine de la Romanee-Conti Burgundy sold for $39,360 at an Acker Merrall & Condit auction, taking top slot ahead of a case of Chateau Lafite-Rothschild 1982 and wines from Harlan Estate.

The 12 bottles of Lafite, a first-growth Bordeaux from Pauillac, sold for $34,440 while seven half-cases of Harlan Estate Red from California’s Napa Valley, spanning vintages from 1991 to 1997, fetched $29,520, according to Acker’s website.

The sale raised a total $3.4 million as demand persisted for rarer Burgundies and landmark vintages from top Bordeaux growers. The Liv-ex Fine Wine 50 Index has risen 5 percent this year, with a 3 percent decline since mid-March following a gain of 8 percent in the previous 10 weeks.

“The market’s still pretty healthy and active,” Acker Chief Executive Officer John Kapon said in a telephone interview. The first-half of the year has “ended on a bit of an uptick heading into the fall.”

The sale, held at Bridgehampton, New York, on June 29, brought Acker’s total sold at auction so far this year to $33.5 million, compared with $46 million it reported in July last year. That reflected pressure on wine auction volumes globally after a 17-month slide in Bordeaux prices ending last November.

Photographer: Marcus Tullis/Acker Merrall & Condit via Bloomberg

Two magnums of Romanee-Conti 1988 Domaine de la Romanee-Conti Burgundy. They sold for $39,360 at an Acker Merrall & Condit auction in Bridgehampton, New York, on June 29. Close

Two magnums of Romanee-Conti 1988 Domaine de la Romanee-Conti Burgundy. They sold for... Read More

Close
Open
Photographer: Marcus Tullis/Acker Merrall & Condit via Bloomberg

Two magnums of Romanee-Conti 1988 Domaine de la Romanee-Conti Burgundy. They sold for $39,360 at an Acker Merrall & Condit auction in Bridgehampton, New York, on June 29.

The presence of a Harlan lot in the sale’s top three mirrored broader interest in Californian wines, with four three-bottle lots of Screaming Eagle Cabernet Sauvignon 2007 fetching $6,765 each.

“California’s been very healthy recently,” Kapon said. “It has its loyal and devoted collectors.”

Acker sales resume in New York on Sept. 7 and Hong Kong a week later.

Following is a table of major wine auctions held so far this year, with the total sold. Links are to auction websites or results statements.

JANUARY:
Jan. 11/12:     Zachys, Hong Kong                     $4.65 mln
Jan. 25/26:     Acker, Merrall & Condit, Hong Kong    $6.82 mln
Jan. 30:        Sotheby’s, London                     $2.22 mln

FEBRUARY:

Feb. 2:         Hart Davis Hart, Chicago              $4.40 mln
Feb. 21:        Christie’s, London                    $1.47 mln
Feb. 23:        Acker, Merrall & Condit, New York     £3.10 mln
Feb. 23:        Sotheby’s, New York                   $1.46 mln
Feb. 27:        Sotheby’s, London                     $1.04 mln

MARCH:

March 7/8:      Zachys, New York                      $5.81 mln
March 14:       Christie’s, New York                  $1.37 mln
March 15/16:    Christie’s, Hong Kong                 $6.19 mln
March 21:       Christie’s, London                    $1.22 mln
March 22/23:    Acker Merrall & Condit, Hong Kong     $4.93 mln
March 23:       Hart Davis Hart, Chicago              $4.42 mln

APRIL:

April 3:        Acker Merrall & Condit, New York      $2.30 mln
April 3/4:      Sotheby’s, Hong Kong                  $8.86 mln
April 17:       Sotheby’s, London                     $2.06 mln
April 23:       Christie’s, Amsterdam                 $1.23 mln
April 25/26:    Zachys, New York                      $4.13 mln
April 26/27:    Sotheby’s, New York                   $2.60 mln
April 27:       Acker Merrall & Condit, New York      $2.48 mln

MAY:

May 2:          Christie’s, London                    $1.93 mln
May 14:         Christie’s, Geneva                    $3.96 mln
May 17/18:      Hart Davis Hart, Chicago              $6.42 mln
May 22:         Acker Merrall & Condit, New York      $2.22 mln
May 22:         Sotheby’s, London                     $1.31 mln
May 24/25:      Zachys, Hong Kong                     $5.73 mln
May 25:         Christie’s, Hong Kong                 $6.32 mln
May 30:         Christie’s, New York                  $0.71 mln
May 31:         Christie’s, New York                  $1.93 mln

JUNE:

May 31/June 1:  Acker, Merrall & Condit, Hong Kong    $5.91 mln
June 6:         Christie’s, London                    $1.85 mln
June 13/14:     Zachys, New York                      $3.56 mln
June 29:        Acker Merrall & Condit, Hamptons      $3.40 mln
June 28/29:     Hart Davis Hart, Chicago              $4.75 mln

To contact the reporter on this story: Guy Collins in London on guycollins@bloomberg.net

To contact the editor responsible for this story: Mark Beech at mbeech@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.