July 22 (Bloomberg) -- Three bottles of Romanee-Conti 2008 Domaine de la Romanee-Conti Burgundy sold for 21,150 pounds ($32,170) at a Sotheby’s auction in London last week, equivalent to 84,600 pounds per 12-bottle case and regaining the higher end of its price band over the past two years.
Since June 2011 the vintage has traded at auction between the equivalent of 63,130 pounds and 87,420 pounds a case, with many transactions taking place for less than 80,000 pounds, according to auction results collated by Liv-ex. The purchase by an Asian buyer at Sotheby’s on July 17 showed demand for recent as well as older vintages from the top Burgundy grower.
The sale came as the Liv-ex Fine Wine 50 Index, a measure of the broader Bordeaux-focused investment-wine market, slipped further this month after a 2 percent drop in the second quarter, paring a 7 percent gain in the first three months to March 31.
“The prices to seem to have stabilized somewhat after the volatility of the past couple of years,” Stephen Mould, head of Sotheby’s European wine department, said by phone. Prices at auctions vary according to the location of the sale and the condition and provenance of the wine.
Three bottles of Romanee-Conti 2005 sold at the Sotheby’s auction last week for 28,200 pounds, while at Bonhams in London the previous week three bottles of the 1999 vintage fetched 23,000 pounds and the same quantity of the 1989 sold for 17,250 pounds.
The Romanee-Conti vineyard in Vosne-Romanee is just under 2 hectares (5 acres) in size and has its own designated appellation as a Burgundy grand cru wine. The 2008 vintage is the fourth most expensive of the 10 years up to 2010.
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