The Burgundy Boom is here, as evidenced by this past weekend’s Acker’s Hong Kong auction. During the event, a rare methuselah of 2002 Domaine de la Romanée-Conti (DRC) sold for a record-breaking $398,400.
The auction attracted more than $12 million in full and was made up of a sizable collection of Domaine de la Romanée-Conti and Leroy that together was responsible for some 45 percent of the revenue and more than 100 new world records. The month of September saw Acker achieve a market best $25 million in September sales, setting the stage for a series of exciting October and November auctions.
The Top Ten Lots were led by the aforementioned six-liter bottle of 2002 Domaine de la Romanée-Conti. It was followed by a six bottle lot of 1993 Domaine Leroy Musigny at $244,181, also a new world record. Two lots of white wine made a Top Ten appearance, both setting new world records, starting with a twelve bottle OWC of 2002 D’Auvenay (Leroy) Chevalier Montrachet realizing$231,329. Three rare jeroboams of 1985 DRC Richebourg in OWC interrupted the white wine procession, selling for $205,626. Twelve bottles of 1996 D’Auvenay (Leroy) Chevalier Montrachet in OWC at $167,071 rounded out the Top Five. Three consecutive lots sold for$128,516: a six liter in OWC of 1985 DRC Richebourg, another new world record, tied with four bottles of 2014 DRC Romanee Conti and six gorgeous magnums in OCB of 1986 Henri Jayer Nuits St. Georges Les Murgers. The rarest of the rare theme continued as a six-liter of 1991 DRC Montrachet sold for $89,961, and yet another six-liter completed the Top Ten Lots thanks to a 1985 DRC Romanee St. Vivant which fetched$77,110. Both DRC lots were also new world records.
“We are in the midst of a momentum and a market I have not seen in 25 years of doing wine auctions,” said Acker Chairman John Kapon. “The Burgundy market is literally doubling right before our very eyes. Both buyers and sellers should pay close attention. For those fortunate to have owned Burgundy for years, you may very well have a newly minted retirement fund, ready for market. Those collectors looking to own more Burgundy need to move quickly, as global demand and competition is accelerating at a dizzying rate. And it’s not just Burgundy – everything is moving on up. While Burgundy gets all the headlines, Bordeaux quietly achieved 35% of the day’s totals while its results were often 15-20% higher than before. More people are discovering the world’s finest wines every day, and we are seeing voracious demand right now. Speaking of great wines, we are launching our next auction this week featuring a collection we are incredibly proud to represent, that of Dr. Ivan Volent – an exciting single cellar sale on October 14th, followed immediately on October 15th with another jam-packed session. It’s an amazing and exciting time for the wine market!”
While Burgundy dominated the auction, it wasn’t the only French varietal attracting massive bids. Bordeaux quietly achieved 35 percent of the day’s totals, according to Acker.
The auction season continues for Acker in Delaware on October 14th-15th, headlined by the remarkable single cellar of Dr. Ivan Volent, returning to Hong Kong on November 5th. Acker is currently accepting wines for its Fall “live online” auctions, with weekly web auctions closing every week and spirits auctions closing monthly.
For more information, head over to Acker’s official website.