What does a wine auction tell you about the wine market?
Analysis of a wine auction. (Event held at Daniel for two days. 1095 lots.) The short answer is that French wine sells and French wine stored under good conditions sells a lot better.
the lots, most common to least.
BORDX red, CA red, ITAL red, BURG red, AUS red, RHON red, SPAIN
champagne, port, bordeaux sweet, madeira, loire, alsace, bordeaux white
includes the price range and the condition of the bottles (fill level, seepage, label scuffs). fill level on bordeaux bottles is described as top shoulder or middle shoulder. and fill level in burgundy bottles are described in centimeter distance from the cork. what isn’t explained is why a bottom shoulder fill level is super bad for a bordeaux bottle and not sellable, but 7 cm of liquid loss in a 50 year old burgundy bottle is normal. in fact the catalogue doesn’t mention what is a risky fill level for a burgundy bottle. i’m assuming in milliliters of oxygen, 7 cm in a burgundy bottle is less than the equivalent distance in bordeaux bottles, but there must be other reasons too.
age of the stuff.
how old is too old? what is still considered saleable merchandise? the madeira ranged from 1827 to 1934, which probably means there’s little risk of O2 damage in madeira, no one cares. on the other end of the spectrum, rhone whites ranged from 1990 to no newer than 2003. white burgundies had 1964 as the oldest vintage with the majority being 1990 to 2002. i didn’t slice and dice the info on price, but actually looking at it that way is more informative.
in other words all final sales tack on 20% to the amount of the winning bid. this doesn’t include the shipping cost. temperature controlled trucks had a 900 dollar minimum and per case cost as well.
Further reading: An actual scouting and auction
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