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.
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