Here’s some news to cheer the wine investor. A posse of new world auction records were set at the end of last week at Christie’s in New York to underline the continuing strength of fine wine investment. Some mature Burgundies and a pair of ancient Madeiras were many of the record-setting wines in question. And some pretty mouthwatering sums were paid for them.
The two Madeiras were so old that, out of deference, they merit first mention. Both were from the 1795 vintage – just six years after the French Revolution. A cheque for $18,375 was written for a Barbeito, Terrantez Garrafeira Particular, while $11,638 was forked out for a Companhia Vinicola da Madeira, Terrantez.
In Burgundy, a case of 1996 Domaine Leroy, Corton-Charlemagne went for as much as $34,300. Six magnums of De Vogüé, Musigny Vieilles Vignes 1993 were bought for $23,275. And going back a few decades, a Jeroboam of DRC, La Tache made $22,050. Completing a half-dozen of world records was a half-case of Jacques Selosse, Grand Cru Blanc de Blancs Brut 1990, which went under the hammer for $15,925.
There were other ‘notable’ sales, as Christie’s put it. Some Domaine de la Romanée-Conti, Romanée-Conti from 2009 and 2012 (both two-bottle lots) fetched $29,400 and $24,500 respectively. A case of Petrus 1947 flew the flag for Bordeaux, bringing in a whopping $49,000, while some Mouton Rothschild 1961 also fared well, attracting a final bid of $34,300.
Whisky lovers also delved deep, with one buyer splashing out $46,550 for a bottle of Macallan, Lalique 55-year old. That helped lift the final sales total to $5,283,278. The logical conclusion seems to be that there is a very large lake of cash swilling about out there, waiting to be pumped into the acquisition of rare fine wines. And it does not look like draining.