Burgundy wine prices soar at Hart Davis Hart auction

paulfrasercollectibles

2015-06-26 13:12:41

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Burgundy wine prices soar at Hart Davis Hart auction

Burgundy prices soar: Hart Davis Hart sells 100% of lots for $4.4m total

Burgundy prices soared above estimates at the world's largest ever Burgundy-only auction, held at Chicago wine auctioneer Hart Davis Hart on March 23.

Burgundy only auctionThe 1991 Clos de la Roche, Vieilles Vignes, Domaine Ponsot is anticipated to have a great future

A Celebration of Burgundy attracted international bidders, and saw 100% of lots sold fora $4.4m total.

The fiercely contested lots included a case of 1991 Clos de la Roche, Vieilles Vignes, Domaine Ponsot, which sold for a record breaking hammer price of $19,120 - a 91.2% increase on its $10,000 top estimate.

Other lots to sell for world record prices included four bottles of 1991 Clos de la Roche, which brought $17,925, and three bottles of 1991 Chambertin, Armand Rousseau, which sold for $8,963 - a 62% increase on its $5,500 high valuation.

According to Knight Frank's 2013 Wealth Report, fine wine grew in valueby 166% between 2002 and 2012.

For more information on diversifying your portfolio into this rewarding area of collectibles, see Paul Fraser Collectibles' free guide to investing in wine, whisky and cigars.

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