Are Wine Auction Prices Firming?

[JamieBahrain]

For various reasons, I’ve found myself a regular dabbler in the secondary market via auction. My buying is varied and more opportunistic, yet occasionally, I fill holes in my cellar with what I find to be hugely underrated wines or styles ( shhh not telling ).

Prices seem to have firmed and risen in my observations of typically traded classics. Any opinions from regular buyers?

[brodie]

For various reasons, I’ve found myself a regular dabbler in the secondary market via auction. My buying is varied and more opportunistic, yet occasionally, I fill holes in my cellar with what I find to be hugely underrated wines or styles ( shhh not telling ).

Prices seem to have firmed and risen in my observations of typically traded classics. Any opinions from regular buyers?

back in Sept I sold some wines at auction including a bottle of 1994 Penfolds Bin 389 for NZ$360 and a bottle of the 1996 Bin 389 for NZ$380. So yes prices are firm IMO

Brodie

[JamieBahrain]

Wow! Drank a bit of the 94 389 and that price is nuts.

[phillisc]

No, they are on the way up. Vendor greed with unrealistic reserves for the most part. People forget that the buyer has no certainty of how the wine is stored and still want a premium. Consideration, that a lot of Aussie classics at 35-40 years old are stuffed anyway...so a lottery, with plenty still wishing to play.

Vintages of Wynns BL from the 60s/70s/80s/90s have increased substantially, the wines from the 60s that I purchased 2-4 years ago have doubled or tripled. Wynns Centenary has doubled, 80s John Riddoch now well over $100, when I was paying $55-80.
82 JR has come down from its silly price of $700, with bottles being passed in at sub $400, will spike again next year for the 40th birthday's.

Have had good success with Lindeman's Coonawarra trio this year, multiple vintages of 80/90s Pyrus/LR/St George for $50 and under. If Covid closes a few more restaurants, then there will be more on offer.

Good luck
Cheers Craig

[JamieBahrain]

I think the greed goes both ways? I’m always outbidding stupidly low bids and not challenged.

Riddoch’s a bit of a gamble but worth it if delivering from sound storage.

[felixp21]

Prices of Burgundy are completely out of control, both here and OS.
Absolutely staggering, many actually insane. Stuff purchased for $100 20 years ago selling for $1500+
There was an article on it recently (?wine searcher) detailing the amazing 12 months in Burgundy auctions, and the conclusion. was that things ain't going to get any better for the buyer!!!
GC's have increased in value by an average of 23% in the past 12 months.
Guess there is a lot of crypto money out there.

[brodie]

Felix, look at this lot for a current example. The 2005 Rousseau prices were pretty reasonable on release.


https://auctions.webbs.co.nz/m/lot-details/i ... tured%3Dno

[phillisc]

In reference to a previous auction in Adelaide last month,
John Riddoch's from 1987, price guide $110, none sold, 1992-1994, price guide $140, none sold
1982 price guide $380+ none sold

And 1990 HoGs, low neck/high shoulder, scuffed labels price guide $800-900...none sold, really, I wonder why
Cheers Craig

[JamieBahrain]

Usually I don’t mind back-filling JR. This cellar I’ve given a wide birth. Must have been pretty warm with big seasonal variations. Too much ullage for their age IMO. The whites from the same cellar look visibly shot!

WTF do folks amass such big cellars, loaded with high end wines, and then not store them properly?

[JamieBahrain]

Prices of Burgundy are completely out of control, both here and OS.
Absolutely staggering, many actually insane. Stuff purchased for $100 20 years ago selling for $1500+
There was an article on it recently (?wine searcher) detailing the amazing 12 months in Burgundy auctions, and the conclusion. was that things ain't going to get any better for the buyer!!!
GC's have increased in value by an average of 23% in the past 12 months.
Guess there is a lot of crypto money out there.

Ah white Burgundy too? I just checked my personal stock and was shocked at the prices for a Montrachet and Batard Montrachet. Texted my daughter and said a bunch of these were for you ( birth year ) and look at the prices now! Said she could have them- drink or sell and put a deposit down.