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Romanee-Conti ’96 Leads Acker Wine Sale With Petrus ’82

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1982 Imperial of Chateau Petrus
A six-liter Imperial of Chateau Petrus 1982 Pomerol. It sold at Acker Merrall & Condit in New York for $34,440. Source: Acker Merrall & Condit via Bloomberg

April 13 (Bloomberg) -- A Romanee-Conti 1996 Domaine de la Romanee Conti assortment case fetched top price of $36,900 at an Acker Merrall & Condit auction in New York this month as demand persisted from investors and collectors for vintage Burgundies.

DRC assortment cases from the same year in varying conditions sold for $36,900 at Acker in Hong Kong on Jan. 25 and for $26,290 at a Hart Davis Hart Wine Co. Chicago sale on March 23. Other leading lots at this month’s Acker sale included a six-liter imperial of Chateau Petrus 1982 Pomerol at $34,440 and a case of Cote Rotie 1985 La Mouline Guigal Rhone for $14,145.

The London-based Liv-ex Fine Wine 50 Index has rallied 10 percent since November, when it fell to its lowest level since March 2010. A 0.3 percent gain in March, following a 2.9 percent increase in February, was its fourth straight advance. A rebound in Bordeaux first-growth wines such as Chateau Lafite-Rotschild has helped boost the index.

“It feels like it’s all returning to a much more normal, stable market,” Miles Davis, partner in London-based Wine Asset Managers LLP, with $20 million under management, said in a phone interview. “Older stock is going along quite nicely. Prices are gently rising.”

Among leading Bordeaux wines at the Acker auction, a case of Lafite 2001 sold for $9,225 while 12 bottles of its 1989 vintage fetched $7,995.

Top Californian wines in the sale included a three-bottle lot of Screaming Eagle Cabernet Sauvignon 1997, which fetched $10,455, and a case of Harlan Estate Red 2007, selling for $9,840.

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

Muse highlights include New York and London weekend guides, Lewis Lapham’s podcasts and Jeremy Gerard on U.S. theater.

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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