NEW YORK--(BUSINESS WIRE)--The great estates of Burgundy and Bordeaux led the way as Acker Merrall & Condit, the world’s leading rare wine auctioneer and America’s oldest fine wine merchant, announced results today for its April 21st auction in New York City.
Marea, one of New York City’s most acclaimed restaurants, was the site once again for Acker Merrall’s second 2012 sale in NYC. In addition to energetic bidding in the room, bidding both on the phone and via the web came from collectors around the world – most notably Asia, Europe and Latin America - with over $3.6 million and 97.45% sold of the 975 lots offered.
Domaine de la Romanee Conti and Chateau Lafite Rothschild dominated all of the Top 10 lots, what some might call a return to order. “The great estates of France continue to be the leading force in the global fine and rare wine auction market,” noted John Kapon, CEO of Acker Merrall. “Bordeaux and Burgundy will always be the barometer for the rest of the market, and while Burgundy may have more sizzle at the moment, Bordeaux will always have more steak as the quantity of production is greater. We saw the rest of our Top 25 lots dominated by Bordeaux, led by Mouton Rothschild, Latour, Cheval Blanc and La Mission Haut Brion. Older vintages like 1947 Cheval Blanc attracted significant interest this sale, and there was also strong demand for Italy and California. Screaming Eagle was the only California wine to crack the sale’s top 25 lots, but California was noticeably strong across the board this weekend.”
The diversity of collectors’ attention was noteworthy in this weekend’s results. Chablis, Champagne, Rhone, Italy and Spain were also all represented in the 59 new world records set. Vogue, Dujac, DRC, Roumier, Jayer, Cathiard, Fourrier, Coche-Dury, Bouchard and Dauvissat were some of the Burgundy estates setting new world records, reinforcing once again Acker Merrall’s leadership position in the Burgundy market. Some of the new world records set included 1985 Dujac Clos de la Roche, 1991 DRC Grands Echezeaux, 1971 DRC Richebourg and 1990 Roumier Bonnes Mares in magnum.
The auction’s top 10 lots were headlined by a magnum of the great 1999 Romanee Conti (Lot 511) which sold for $34,440 USD, a world record. The famous Domaine de la Romanee Conti drove strong bidding for 2001 and 2000 DRC Assortments, both bringing $27,060 for each lot amid global demand. Magnums of Romanee-Conti were the object of fierce competition as three lots (513-515) of one magnum each of 2003 Romanee Conti were hammered for $23,370 per magnum, also a world record. The Bordeaux parade was led by the great 2000 Lafite Rothschild, selling for $22,140 per case.
Acker Merrall’s next auction will be in New York at A Voce in Columbus Circle on Saturday, May 19th, followed the following weekend with a Hong Kong auction on May 25th and 26th at the Grand Hyatt Hotel, featuring over US$8 million of fine and rare wine.
About Acker Merrall & Condit
Established in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest wine auction house. With operations in New York, Chicago and Hong Kong, the companies host more than 25 live and internet auctions annually. They are devoted to helping their customers buy and sell the best wines, and also to sharing with them the experience of enjoying wine. Starting out as a family business, three generations of the Kapon family have been dedicated to bringing the best from the vine to their customers.