Largest US wine auction sees records tumble at Hart Davis Hart

paulfrasercollectibles

2015-06-26 13:17:14

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Largest US wine auction sees records tumble at Hart Davis Hart

In the largest US wine auction of 2013, records were set for Chateau Magdelaine and 1966 Musigny

Hart Davis Hart has posted spectacular results for its May 20 wine auction, which was the largest held in 2013 so far in the US, with 100% of lots sold.

1966 MusignyThe Musigny is a grand cru vineyard in Cote de Nuits in Burgundy

The sale realised an outstanding $6.4m, with a record price set for a five bottle lot of 1966 Musigny, Vieilles Vignes Comte Georges de Vogue, which sold for $15,535 against a $6,500 high estimate - a 139% increase.

The auction's second record came as a 12 bottle case of 1961 Chateau Magdelaine sold for $11,950, making another 139% increase on its top estimate of $5,000.

Selling in the top spot was a case of the illustrious Domaine de la Romanee-Conti's (DRC)La Tache from 1990, which sold 8.6% above its $55,000 high estimate at $59,750.

1990 is one of the most sought after vintages from DRC's vineyards, with the current record price held by a 12 bottle case of Romanee-Conti at $297,400, achieved at a 2011 sale in Hong Kong.

The La Tache 1990 vintage was graded 100/100 in Robert Parker's Wine Advocate, with the respected critic commenting: "I cannot think of a more profound, young red Burgundy tasted than DRC's 1990 La Tache."

The wine market is looking robust in 2013, after a poor performance last year. The Liv-ex Fine Wine 100 posted a 5.9% increase in the first four months of 2013.

Meanwhile, Burgundy remains strong with the Liv-ex DRC Index, which tracks the price movement of the producer's leading crus, showing a 34.5% increase over the last two years.

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