Thursday, September 25, 2008

$3,800 per Bottle - Now that's expensive

As Reported by Wine & Spirits Daily -


In the Chicago this weekend Hart Davis Hart Wine Company sold one of the largest single-owner wine collections to date. The Fox Cellar, whose pre-sale estimate was $6.8-$10.2 million, exceeded expectations with $11,160,583 realized, becoming the fourth largest wine auction in history, and the largest cellar sold so far in 2008. 100% of the 1746 lots on offer sold.

An "unprecedented" selection of Château Lafite-Rothschild realized $1,819,627 against a pre-sale estimate of $1,067,200-1,598,700. The price achieved by the first lot of a seven case parcel of 1982 Château Lafite-Rothschild beat the world record for the wine. It sold to a Chinese bidder in the room for $54,970 against an estimate of $20,000-30,000. A case of 1982 Lafite sold for $46,000 (aggregate $54,970).

Large selections of wines from Haut-Brion, Latour, Margaux, Pétrus, and Domaine de la Romanée -Conti all soared over their respective pre-sale high estimates. The average lot value in the sale exceeded $6300 per lot over 1746 lots.

Bidders traveled to Chicago from 40 states as well as Australia, Europe, Canada and Asia to attend the acution which took place at Tru restaurant.

"During these times of uncertainty in the financial markets, the relationships that we have built over decades with buyers from all over the world are invaluable, and the results bear this out," said chairman John Hart in a statement. "I am thrilled for the consignor, and so proud of our team at Hart Davis Hart."

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