June 22 (Bloomberg) -- A case of Richebourg 1985 Domaine de la Romanee-Conti fetched $34,300 at a Zachys sale in New York this month as Burgundy wines including Musigny and Chambertin accounted for four of the top five lots.
A 12-bottle lot of Musigny Maison Leroy 1985 fetched $26,950, a case of Musigny J.F. Mugnier 1993 sold for $23,275 and the same quantity of Chambertin Clos de Beze Armand Rousseau 1993 attracted a winning bid of $20,825, according to a statement from Zachys after the two-day sale ended June 14.
Demand for vintage Burgundies has underpinned the market this year as appetite remains muted for Bordeaux. The Liv-ex Fine Wine 50 Index has dropped 3 percent since mid-March, after four months of gains, as the sales campaign for 2012 Bordeaux wine futures weighed on the broader wine market.
“Even though demand is relatively subdued at present, prices appear to have bottomed out,” William Beck, partner of London-based Wine Asset Managers LLP, which has $20 million under management, said in a market analysis this month.
Among top Bordeaux in the sale by Zachys, a 10-bottle lot of Chateau Petrus 1982 Pomerol sold for $36,750 while six bottles of the same grower’s 2005 wine fetched $18,375. The auction raised a total of $3.56 million.
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 MAY: May 2: Christie’s, London $1.93 mln May 14: Christie’s, Geneva $3.96 mln May 17/18: Hart Davis Hart, Chicago $6.42 mln May 22: Acker Merrall & Condit, New York $2.22 mln May 22: Sotheby’s, London $1.31 mln May 24/25: Zachys, Hong Kong $5.73 mln May 25: Christie’s, Hong Kong $6.32 mln May 30: Christie’s, New York $0.71 mln May 31: Christie’s, New York $1.93 mln JUNE: May 31/June 1: Acker, Merrall & Condit, Hong Kong $5.91 mln June 6: Christie’s, London $1.85 mln June 13/14: Zachys, New York $3.56 mln
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