NEW YORK--(BUSINESS WIRE)--France’s great Bordeaux and Burgundy estates remain the global standards and the highly sought-after winners in Acker Merrall & Condit’s third New York auction of 2012. The world’s leading rare wine auctioneer and America’s oldest fine wine merchant continues to set the pace for the global fine and rare auction market in its results for its May 19th auction in New York, held at Manhattan’s A Voce restaurant.
Bordeaux’s global strength and leadership continued as 18 of the 25 Top Selling Lots came from the famed region. Lafite, Petrus, Latour, Mouton, Yquem and La Mission Haut Brion were all present in that list, from great vintages such as 1928, 1982, 1989, 1990 and 2000. Burgundy’s rise in the global auction market was reinforced by the fact that over 30 of the 64 new world records set during highly competitive global bidding came from Burgundy. Strong demand for the great reds and estates from Italy and California made them a strong presence too among the new world record holders – they accounted for 20 of the 64 new world records.
The highest selling lot of the auction was an assortment of the great 1985s from the Domaine de la Romanee Conti which sold for $46,740. The strength of the great 1982 Bordeaux was shown by Chateau Lafite Rothschild’s $36,900 for a 12 bottle OWC, and an OWC of Chateau Latour for $20,910, both of which were among the top 10 lots. Two legendary vintages of Petrus, 1989 and 1990, were aggressively sought after. Six bottles of 1989 brought $20,910, and 9 bottles of the 1990 were sold for $31,980. Also of note was an extremely rare OWC of 1928 La Mission Haut Brion which made the Top 10 by selling for $19,680.
“Bordeaux and Burgundy’s top estates remain what collectors worldwide want in their cellars above all else. Bordeaux is crawling back into the spotlight, as consumers turn to older wines given the lack of interest in 2011 futures, whose prices seem out of touch given the wealth of great, older wine available at auction,” said John Kapon, CEO of Acker Merrall. “Just as exciting was the performance of great reds from Burgundy, Italy and California. This shows how diverse the market for the world’s greatest wines has become. That is a trend we expect to continue as more and more collectors globally recognize just how collectible these wines are and will be. There is one month left in our first half of 2012, and with auctions in Hong Kong, Chicago and The Hamptons, it should be an exciting and wine-filled way to end the season.”
About Acker Merrall & Condit
Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest wine auction house. With affiliates in New York, Chicago and Hong Kong, the companies hold more than fifteen auctions a year, including Internet auctions. They are devoted to helping their customers buy and sell the best wines, and also to sharing with them the experience of enjoying wine. In recent years, the company has greatly expanded its services to education, tastings and the formation of wine clubs. 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.