July 6 (Bloomberg) -- Two magnums of Romanee-Conti 1988 Domaine de la Romanee-Conti Burgundy sold for $39,360 at an Acker Merrall & Condit auction, taking top slot ahead of a case of Chateau Lafite-Rothschild 1982 and wines from Harlan Estate.
The 12 bottles of Lafite, a first-growth Bordeaux from Pauillac, sold for $34,440 while seven half-cases of Harlan Estate Red from California’s Napa Valley, spanning vintages from 1991 to 1997, fetched $29,520, according to Acker’s website.
The sale raised a total $3.4 million as demand persisted for rarer Burgundies and landmark vintages from top Bordeaux growers. The Liv-ex Fine Wine 50 Index has risen 5 percent this year, with a 3 percent decline since mid-March following a gain of 8 percent in the previous 10 weeks.
“The market’s still pretty healthy and active,” Acker Chief Executive Officer John Kapon said in a telephone interview. The first-half of the year has “ended on a bit of an uptick heading into the fall.”
The sale, held at Bridgehampton, New York, on June 29, brought Acker’s total sold at auction so far this year to $33.5 million, compared with $46 million it reported in July last year. That reflected pressure on wine auction volumes globally after a 17-month slide in Bordeaux prices ending last November.
The presence of a Harlan lot in the sale’s top three mirrored broader interest in Californian wines, with four three-bottle lots of Screaming Eagle Cabernet Sauvignon 2007 fetching $6,765 each.
“California’s been very healthy recently,” Kapon said. “It has its loyal and devoted collectors.”
Acker sales resume in New York on Sept. 7 and Hong Kong a week later.
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 June 29: Acker Merrall & Condit, Hamptons $3.40 mln June 28/29: Hart Davis Hart, Chicago $4.75 mln
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