Petrus ’09 Magnums Lead Hart Davis Hart Sale With Dujac

Source: Hart Davis Hart via Bloomberg

Six magnums of Petrus 2009 comprised the top-priced lot, which sold for $47,800, at a two-day Hart Davis Hart Wine Co. auction in Chicago. The event raised a total of $5 million, the auction house said. Close

Six magnums of Petrus 2009 comprised the top-priced lot, which sold for $47,800, at a... Read More

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Source: Hart Davis Hart via Bloomberg

Six magnums of Petrus 2009 comprised the top-priced lot, which sold for $47,800, at a two-day Hart Davis Hart Wine Co. auction in Chicago. The event raised a total of $5 million, the auction house said.

Magnums of Petrus and Le Pin from the Pomerol estates’ 2009 vintage, along with cases of 1982 Chateau Lafite-Rothschild and Domaine Dujac 1990 Burgundy led a Hart Davis Hart Wine Co. Chicago wine sale that fetched $5 million.

Six Petrus ’09 magnums were the top-priced lot at $47,800 at the two-day event late last month, within the auction house’s estimated presale range. It was Hart Davis Hart’s fifth sale of this year, taking its total of wine sold so far to $25 million, with two auctions remaining before the end of December.

The demand for rarer Bordeaux and older Burgundy vintages at auction is in contrast to the muted appetite in recent months for more widely-available Bordeaux wines on the investment market. The Liv-ex Fine Wine 50 Index of the region’s top growers has risen 2 percent this year, still leaving the decline since the peak of the market in June 2011 at 29 percent.

“If you look at some of the premium brands like first-growth Bordeaux, the slowdown’s already happened,” Tom Gearing, director of Cult Wines Ltd., a wine-investment company based in Richmond, England, said in an interview with Guy Johnson on Bloomberg Television’s “The Pulse” last month. “Now’s the time to be looking at opportunities in the market.”

Vintage Petrus

Other leading lots in the Hart Davis Hart sale included a case of Lafite ’82, which sold for $41,825 including buyer’s premium, two other cases of the same wine at $35,850 each and six magnums of Le Pin 2009, which also went for $35,850. A lot comprising three magnums of Petrus ’09 and another containing six bottles of the same estate’s 2000 vintage each sold for $23,900, according to a statement from the auction house.

Among top Burgundy wines in the auction, a case of 1990 Bonnes-Mares, Domaine Dujac and a separate 12-bottle lot of Dujac’s 1990 Clos de la Roche each sold for $23,900, while a case of Clos Saint-Denis 1990 Domaine Dujac fetched $22,705.

Petrus, Le Pin and Domaine Dujac are all growers with small production, adding a rarity premium to the price of their wines.

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

JULY:

July 17:        Sotheby’s, London                     $2.09 mln

AUGUST:

Aug. 31:        Christie’s, Hong Kong                 $3.84 mln

SEPTEMBER:

Sept. 7:        Sotheby’s, Hong Kong                  $4.51 mln
Sept. 7:        Acker Merrall & Condit, New York      $3.15 mln
Sept. 12:       Christie’s, London                    $2.13 mln
Sept. 13/14:    Acker, Merrall & Condit, Hong Kong    $6.40 mln
Sept. 18:       Sotheby’s, London                     $1.80 mln
Sept. 20/21:    Hart Davis Hart, Chicago              $5.03 mln
Sept. 20/21:    Sotheby’s, New York                   $3.96 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

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