Eleven lots of 1982 Bordeaux wines, including eight cases of Chateau Latour and three double magnums of Chateau Petrus, are estimated to fetch as much as 12,000 pounds ($18,600) each at a Sotheby’s sale in London this month.
A single bottle of Romanee-Conti 2005 Domaine de la Romanee-Conti Burgundy carries a price tag of as much as 8,000 pounds, while a similar one from 2009 is estimated at as much as 7,500 pounds, according to the Sotheby’s online catalog.
Demand from investors for Bordeaux after two price slumps in the past five years has boosted the London-based Liv-ex Fine Wine 50 Index by 9 percent since November, when it touched a 31-month low. The daily gauge, which fell in April after four straight monthly gains, rose again at the start of this month while the Liv-ex Fine Wine 100 Index, calculated monthly, has gained 5.9% so far this year.
The wine market “is reasonably stable at the moment,” said Chris Smith, investment manager at The Wine Investment Fund in London. Smith said his start-of-year forecast for a 14 percent gain in 2013 “still looks about right.”. The fund, invested in Bordeaux, has about $50 million under management.
Other leading Bordeaux lots in the sale, scheduled for May 22, include two cases of Chateau Lafite-Rothschild 2001 Pauillac, estimated to fetch as much as 5,500 pounds each, six cases of Chateau Cheval Blanc 1982 from Saint-Emilion, with a price tag of as much as 5,200 pounds each, and eight cases of Latour 1996 estimated at as much as 4,400 pounds each.
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.
MAY: May 14/15: Christie’s, Geneva May 18: Bonhams, San Francisco May 18: Hart Davis Hart, Chicago May 22: Sotheby’s, London May 23: Bonhams, Hong Kong May 23: Bonhams, London May 24/25: Christie’s, Hong Kong May 24/25: Zachys, Hong Kong May 29: Acker Merrall & Condit, New York May 30/31: Christie’s, New York May 31: Acker, Merrall & Condit, Hong Kong JUNE: June 1: Acker, Merrall & Condit, Hong Kong June 6: Christie’s, London June 8: Sotheby’s, New York June 12: Sotheby’s, London June 28: Christie’s, Paris June 29: Acker Merrall & Condit, New York June 29: Hart Davis Hart, Chicago JULY: July 11: Bonhams, London July 17: Sotheby’s, London July 27: Bonhams, San Francisco SEPTEMBER: Sept. 7: Acker Merrall & Condit, New York Sept. 11: Sotheby’s, London Sept. 12: Bonhams, London Sept. 14: Bonhams, San Francisco Sept. 21: Hart Davis Hart, Chicago Sept. 27/28: Acker Merrall & Condit, Hong Kong OCTOBER: Oct. 24: Bonhams, London Oct. 26: Hart Davis Hart, Chicago NOVEMBER: Nov. 20/22: Bonhams, Hong Kong DECEMBER: Dec. 7: Hart Davis Hart, Chicago Dec. 12: Bonhams, London
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.