LONDON--(BUSINESS WIRE)--Cult Wines, the global leader in fine wine investment and collection management, today announced the sale of 2013 Domaine Leroy Musigny, a rare and acclaimed Grand Cru Burgundy, to a customer in Asia. The 3-bottle case achieved a record price of $142,000, approximately $47,333 per bottle, representing a 123% increase on the current average auction price and higher than any price previously set at auction.
“We’re seeing an insatiable demand across Asia at the upper end of the Burgundy market,” noted Joe Alim, Director of Greater China for Cult Wines. “This is particularly true for producers like Domaine Leroy and Domaine de la Romanée-Conti, where competition is fierce for the rarest, most prized Grand Crus, which are inherently in short supply. We expect this demand to continue at pace and will continue to see an upward trend in prices.”
Cult Wines facilitated the sale of the highly regarded wine on behalf of a private collector onto a customer in Asia. The sale demonstrates the strength of the market and unwavering demand for Burgundy Grand Crus. Cult Wine’s global footprint, with offices the UK, North America and Asia, enables seamless facilitation of transactions for clients and customers around the world.
“At Cult Wines we are well positioned to compete at the top end of the market and meet global demand for premium and high demand Burgundies,” said Tom Gearing, CEO & Co-Founder of Cult Wines. “Over the last two decades we’ve cultivated relationships within the region, providing clients with access to highly allocated wines. Our global reach has also allowed us to sell through client wines at the most advantageous prices.”
Burgundian wines are the ultimate representation of supply and demand imbalance in fine wines. Among the rarest wines in the world, Domaine Leroy produced only 618 bottles of Musigny in the 2013 vintage. According to Wine-Searcher.com, Domaine Leroy Musigny is the world’s most expensive wine, having increased 377% in five years from an average bottle price of $5,608 to the current average bottle price of $26,776.
Cult Wines sells wines that are available for delivery, as well as sourcing wines for individual collections, whether for immediate enjoyment or cellaring for investment.
To download images, please follow this link: Cult Wines Images of 2013 Domaine Leroy Musigny.
ABOUT CULT WINES
Cult Wines, the world’s leading fine wine investment and collection management company, is setting a new industry standard. The award-winning company, which manages wine collections worth more than £170m, makes investing and collecting fine wine as effortless as drinking it. Combining a love of fine wine and market-leading industry knowledge with the latest technology, Cult Wines analyses and unlocks the market for investors around the world. Long-term wine collectors and novice investors alike chose Cult Wines not merely for the extensive financial expertise, but for the shared passion for fine wine, and access to likeminded wine lovers, enthusiastic experts, exclusive tastings and engaging trips. Headquartered in the UK, Cult Wines was founded in 2007 and has offices in Canada, China, Hong Kong, Singapore and the US, supporting clients in more than 70 countries. For more information, please visit http://www.wineinvestment.com/ or find us on LinkedIn, Twitter, Facebook or Instagram.