Hart Davis Hart sells-out 100% with 'most energetic' $5.3m fine wine auction



2015-06-26 12:34:13

Hart Davis Hart sells-out 100% with 'most energetic' $5.3m fine wine auction

'A perplexed bidder told me he had trouble winning any lots,' says Vice-Chairman Michael Davis

Hart Davis Hart launched its fall season with great aplomb on Saturday, September 17 in Chicago, selling 100% of the lots offered and achieving $5.3 million - well above the pre-auction estimate of $3,430,990-$5,139,310.

According to the auction house's report, there was a full house of bidders in the dining room of award-winning restaurant Tru, fuelling energetic demand for wines in all categories.

Buyers from across the country were in attendance, competing throughout the day with bidders following along on the internet and over the phone.

Chteau Ptrus fine wines

Chteau Ptrus fine wines wereamong the auction's highlights

Altogether, bidders in the auction represented 37 states, the District of Columbia and Puerto Rico, as well as Australia, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Japan, Macau, Mexico, Singapore, South Korea, Switzerland, Thailand, and the United Kingdom.

"This was the most energetic bidding we've seen in months. Overall prices have not been this high in relation to the estimate range since January," commented CEO Paul Hart.

Although Bordeaux prices rose slightly, bidding was particularly heated for wines from top Burgundy estates such as Domaine de la Romane-Conti.

A 1990 Assortment commanded $50,190 against a pre-auction estimate of $32,000 - $48,000 while bidding also soared above the high end of the estimate range for a case of 1990 Grands-Echzeaux, climbing to $21,510 (estimated at $9,500 - $14,000).

"A perplexed bidder who had come to the auction prepared to buy extensively told me with a smile that he was having trouble winning any lots," noted Vice-Chairman Michael Davis.

"This was an exceptional start to the fall season with worldwide demand for fine wine gaining strength in Chicago. More great wines will be on offer in October."

Top Lots (inclusive of 19.5% buyer's premium)

Lot 240: 1990 La Tche DRC (12 bs) (est. $32,000-48,000) $53,775Lot 239: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $50,190Lot 236: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $47,800Lot 930: 1982 Chteau Lafite Rothschild (12 bs) (est. $30,000-45,000) $47,800Lot 36: 1982 Chteau Lafite Rothschild (12 bs) (est. $30,000-45,000) $45,410Lot 237: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $45,410Lots 147, 148: 1989 Chteau Ptrus (12 bs) (est. $28,000-42,000) $41,825Lot 57: 1982 Chteau Lafleur (12 bs) (est. $24,000-35,000) $38,240Lots 145, 146: 1989 Chteau Ptrus (12 bs) (est. $28,000-42,000) $38,240Lot 241: 1990 Richebourg DRC (12 bs) (est. $18,000-28,000) $31,070

Sale Statistics

Percent sold by lot: 100%Total Aggregate:$5,295,116Low Pre-Sale Estimate: $3,430,990High Pre-Sale Estimate:$5,139,310

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