March 16 (Bloomberg) -- Romanee-Conti wines from the 1990s and earlier will be among leading lots at a Hart Davis Hart Wine Co. auction in Chicago this month devoted to Burgundy, as demand for the region’s top producers drives the broader market.
The sale on March 23 will include 175 lots of Domaine de la Romanee-Conti spanning 33 vintages from 1966 onwards, including three bottles of 1999 Romanee-Conti DRC estimated to fetch as much as $35,000 and another three-bottle lot of the 1991 vintage with a top estimate of $32,000. A 10-bottle lot of La Tache DRC spanning the first decade of this century may fetch as much as $28,000, according to the auction house.
Wine prices have revived over the past four months after the London-based Liv-ex Fine Wine 50 Index slumped in November to its lowest level since March 2010. It has rallied 10 percent since then, including 2.9 percent in February, and in January advanced 3.5 percent, its biggest monthly gain for two years.
“Burgundy is certainly making waves across the world and in no small part due to fragmented ownership and very small production volumes,” Peter Lunzer, founder of Lunzer Wine Investments in London, said in his February market report.
“Recent demand for top Burgundy producers far exceeds supply,” Lunzer said. He helps manage wine investment and trading accounts worth $34 million.
The Hart sale also contains 52 lots of wines from Henri Jayer, including a bottle of 1985 Richebourg carrying a top estimate of $14,000 and two bottles of 1985 Vosne-Romanee Cros Parantoux estimated at as much as $12,000.
Jayer died in 2006 and has become one of Burgundy’s most sought-after wine-makers. At a Hart auction in February, 12 bottles of Jayer’s 1990 Cros Parantoux sold for $113,525.
Acker Merrall & Condit sales are scheduled in Hong Kong and New York later this month, while Christie’s has a London auction.
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.
MARCH: March 21: Christie’s, London March 22/23: Acker Merrall & Condit, Hong Kong March 23: Hart Davis Hart, Chicago March 27: Acker Merrall & Condit, New York APRIL: April 3: Acker Merrall & Condit, New York April 3/4: Sotheby’s, Hong Kong April 12: Christie’s, New York April 17: Sotheby’s, London April 23: Christie’s, Amsterdam April 25/26: Zachys, New York April 26/27: Sotheby’s, New York April 27: Acker Merrall & Condit, New York MAY: May 2: Christie’s, London May 14: Christie’s, Geneva May 15: Sotheby’s, London May 18: Hart Davis Hart, Chicago May 23: Bonhams, Hong Kong May 24: Christie’s, New York May 24: Christie’s, Hong Kong May 24/25: Acker, Merrall & Condit, Hong Kong May 24/25: Zachys, Hong Kong May 29: Acker Merrall & Condit, New York JUNE: June 6: Christie’s, London June 8: Sotheby’s, New York June 12: Sotheby’s, London 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 10: Sotheby’s, London SEPTEMBER: Sept. 7: Acker Merrall & Condit, New York Sept. 11: Sotheby’s, London Sept. 21: Hart Davis Hart, Chicago Sept. 27/28: Acker Merrall & Condit, Hong Kong OCTOBER: Oct. 23: Sotheby’s, London Oct. 26: Hart Davis Hart, Chicago NOVEMBER: Nov. 13: Sotheby’s, London Nov. 20/22: Bonhams, Hong Kong DECEMBER: Dec. 7: Hart Davis Hart, Chicago Dec. 13: Sotheby’s, London
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