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Romanee-Conti 2001 Tops Acker New York Sale With La Tache

A case of Romanee-Conti 1999 Domaine de la Romanee-Conti Burgundy on sale at an Acker Merrall & Condit wine auction in New York. Source: Acker Merrall & Condit via Bloomberg
A case of Romanee-Conti 1999 Domaine de la Romanee-Conti Burgundy on sale at an Acker Merrall & Condit wine auction in New York. Source: Acker Merrall & Condit via Bloomberg

May 4 (Bloomberg) -- Three magnums of Romanee-Conti 2001 Domaine de la Romanee-Conti Burgundy were top lot at an Acker Merrall & Condit wine auction in New York last week, fetching $61,500, while a case of La Tache 1978 sold for $59,040.

Other vintages leading the April 27 sale included a three-bottle case of Romanee-Conti 1999 DRC, which sold for $39,360, as Domaine de la Romanee-Conti vineyards accounted for nine of the top 10 lots at the $2.48 million auction.

Investor demand has revived after a 17-month price slide which started in July 2011, boosting the Liv-ex Fine Wine 50 Index by 9 percent since November. The index, which fell in April after posting four straight monthly gains, is still up more than 5 percent on the year, partly helped by Asian buying.

“Every auction in New York has good participation from Hong Kong, and vice versa” John Kapon, Acker’s Chief Executive Officer, said in a telephone interview from New York. “There’s definitely a bit of cross-pollination.”

The top Bordeaux at the sale was a six-bottle lot of Chateau Petrus 1990 Pomerol, which fetched $22,140, according to Acker. Different vintages of Petrus from years between 1990 and 2008 accounted for six of the top 25 lots in the auction.

Other leading wines in the Acker sale included Californian estates Screaming Eagle, Sine Qua Non and Marcassin.

“We’ve noticed really good activity in California” and other areas including Spain, Kapon said. “I think we’re seeing the market continue to diversify.”

Zachys Sale

Zachys also held a New York sale on April 25 and April 26, selling a total $4.13 million of wine, with bidding pickup up particularly on Bordeaux and young California wines, according to the auction house.

Top lots at Zachys included three six-liter imperials of Chateau Petrus from 2006, 2008 and 2009, which sold for a combined $67,375.

A case of Chateau Lafite-Rothschild 1982 sold for $39,200, 12 bottles of Petrus 2009 fetched $36,750 and a similar quantity of Chateau Latour 1961 went for $31,850.

Among Californian wines in the auction, three bottles of Screaming Eagle Cabernet Sauvignon 2007 sold for $7,963 and six bottles of Harlan Estate 1996 fetched $4,165.

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

Muse highlights include Scott Reyburn on the art market; London and New York weekend guides; Greg Evans and Craig Seligman on movies; and Lewis Lapham’s podcasts.

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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