1990 La Tâche DRC posts 23.05% pa return at $4m vintage wine sale
1990 La Tche DRC posts 23.05% pa return at $4m vintage wine sale
The jeroboam of 1990 La Tche DRC wasn't the only strong seller at Hart Davis Hart's wine auction
Another week, and another impressive wine sale - as the fine wine specialist Hart Davis Hart recorded results of almost $4m in Chicago on March 24.
Attracting international bidders from Singapore, France, Australia, the UK and Hong Kong, the Celebration of Burgundy sale offered collectors and investors a sumptuous selection of vintages. And with online bidders competing with those in the packed saleroom, it was no surprise that the auction concluded with 100% of lots sold.
The auction achieved $3.98m, exceeding its high estimate of $3.5m by 13.8%, and saw numerous lots smash their pre-sale valuations.
The DRC vineyards provided nine of the top 10 lots
One of the event's most impressive results was a jeroboam of 1990 La Tche Domaine Romanee-Conti (DRC), which more than doubled its high pre-sale estimate of $18,000 to sell for $41,825.
Originally purchased by the consignor in 1993 for $949.99, the result represents a superb return of 4,400%, or 23.05% pa. With soaring figures like this it's no wonder we recently tipped DRC wines as one of our best investments of 2012.
DRC vintages accounted for nine of the top 10 lots sold, with particular mention going to six bottles of 2007 Romane-Conti which made $59,750, a 12-bottle 1990 DRC assortment which brought $53,775, and a 12-bottle 1985 DRC Assortment which sold for $50,190.
These are good times for the 1985 vintage; an original wooden 12-bottle case achieved a new world record price of $187,692 at an Acker, Merrall & Condit sale in Hong Kong earlier this year.
Commenting on the sale, company CEO Paul Hart said: "The success of the day went beyond DRC as prices across the board were strong in places like Chablis and Volnay, as well as for the Grand Cru offerings. The outpouring of bids from around the globe was the strongest we have seen in some time."
As the first quarter of 2012 draws to a close, it's easy to see why wine collectors and specialist auction houses are enjoying the year so far. With market figures increasing at a steady rate, and world record prices being set each month, now could be the perfect time to add a bottle or two to your portfolio.