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Romanee-Conti Tops Acker’s Hamptons Auction With Lafite

Harlan Estate Red
Casks of aging wines at the Harlan Estate Winery's cellar in Oakville. Seven half-cases of the Estate's Red from California's Napa valley spanning the vintages from 1991 to 1997 fetched $29,520 at an Acker Merrall & Condit wine auction in Bridgehampton, New York on June 29. Photographer: Chip Chipman/Bloomberg

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

Top arts and lifestyle stories: MUSE <GO>. Dine & Deal reviews: BDD <GO>. Restaurant search: DINE <GO>. Wine news: NI WINE <GO> Wine auction news: NI WINEAUC <GO> Wine market news: NI WINEMARKET <GO> Top Spain news: TOP ESP <GO> Sotheby’s auctions BID US <Equity> TCNI AUCTION <GO>. Christie’s auctions CHRS LN <Equity> TCNI AUCTION <GO>. London art auction news search: STNI LONDONART <GO>. Art reviews: TNI ART REVIEWS <GO>. More wine and spirit reviews: NI WINEREV <GO>. Top stories: TOP <GO>. Top financial news: TOP FIN <GO>.

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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