Prices Strengthen as Hart Davis Hart Sells 100% of Lots Amidst Heaviest Bidding Since The Fox Cellar

Hart Davis Hart experienced their heaviest day of bidding of the year this weekend in Chicago, realizing $2,449,140 against a pre-sale auction estimate of $1,458,870 to $2,182,870. Two cases of 1982 Lafite, estimated at $14,000-20,000, brought $31,070 each. Two other cases brought $28,680 each and a fifth case brought $26,290. 1996 Lafite was also strong, bringing $11,350 against an estimate of $6,000-9,000. A special “First Flight of Eagles” in a commemorative wooden case containing one bottle each of 1992, 1993, and 1994 Screaming Eagle brought $11,350 against an estimate of $6,000-9,000.

hart-davis-hart-wine.jpgBidders from Asia and Europe were especially active against rejuvenated US buyers and very heavy live internet bidding. Bidders participated from 39 states, the District of Columbia and Puerto Rico, as well as Brazil, Canada, China, Denmark, France, Germany, Iceland, Japan, Mexico, the Netherlands, Norway, the Philippines, Singapore, South Korea, Spain, Switzerland, and the United Kingdom.

“We have not seen this level of demand for high end Bordeaux and Burgundy since last September,” said President and CEO Paul Hart. “US buyers were much more aggressive than in recent months. International bidding was also up significantly with China leading the way. Prices for Lafite Rothschild rebounded to levels we have not seen since the Fox Cellar in 2008.”

After the Fox Sale last September and the subsequent financial market disruptions, Hart Davis Hart along with the global wine auction market, saw lower prices during the fourth quarter of 2008. However, both bidding and prices have strengthened dramatically in each successive auction of 2009. This past weekend HDH saw prices for all major categories including Bordeaux, Burgundy, Italy, and California surpass expectations.

Commented Chairman John Hart: “We are still very cautious with our outlook considering the recent turmoil and unpredictability in all kinds of markets worldwide. However, we have seen broad based stability in the wine auction market his spring, and many prices have rebounded significantly. There is welcome cause for optimism. We hope to finish our season in June with two very special auctions.”

Top Ten Lots (inclusive of 19.5% buyer’s premium):
1. Lot 43: 12 bottles of 2000 Château Pétrus at $35,850
    (est. $26,000-38,000)
2. Lot 159: 12 bottles of 1982 Lafite Rothschild at $31,070
   (est. $14,000-20,000)
3. Lot 497: 12 bottles of 1982 Lafite Rothschild at $31,070
   (est. $14,000-20,000)
4. Lot 1: 12 bottles of 1982 Lafite Rothschild at $28,680
   (est. $14,000-20,000)
5. Lot 158: 12 bottles of 1989 Château Pétrus at $28,680
   (est. $16,000-24,000)
6. Lot 298: One 1990 DRC Assortment Case at $28,680
   (est. $24,000-35,000)
7. Lot 383: 12 bottles of 1982 Lafite Rothschild at $28,680
   (est. $14,000-20,000)
8. Lot 596: 1 methuselah of 1990 La Tâche DRC at $28,680
   (est. $16,000-24,000)
9. Lot 2: 12 bottles of 1982 Lafite Rothschild at $26,290
   (est. $14,000-20,000)
10. Lot 499: 6 magnums of 1982 Lafite Rothschild at $26,290
   (est. $14,000-20,000)

Total hammer: $2,049,490
Total aggregate: $2,449,140
Percent sold by lot: 100%

Upcoming Auction Calendar
June 6, 2009
June 27, 2009
September 12, 2009

French Classics from a Magnificent Collection – Part II
Saturday, June 6, 2009 | TRU Restaurant 10:00 a.m.
Hart Davis Hart is very excited to offer another offering of French Classics from a Magnificent Cellar. This extraordinary single-owner sale is part of an important and very extensive cellar. The sale will be comprised of approximately 500 lots valued at $1.2 to $1.8 million.

An Auction of Finest & Rarest Wines
Featuring a Remarkable Selection from the Cellar of a Prominent Restaurant
Saturday, June 27, 2009 | TRU Restaurant 9:00 a.m.
This auction will be anchored by an outstanding offering from the extensive cellar of a prominent restaurant. A broad selection of Bordeaux is featured, reaching back to 1964, with an extensive range of the 1982 vintage. Additional highlightsof this collection include single-vineyard Côte Rôtie from Guigal, finest Burgundy from Domaine de la Romanée-Conti, and classics from Napa Valley.

Bidding Information
Auction catalogs are available through the website or by calling Hart Davis Hart (hdhwine.com; 312.482.9996.) The expanded website allows bidders to view and search the auction catalog and place absentee bids online.

Hart Davis Hart’s state-of-the-art technology allows bidders worldwide to participate in the Chicago-based live auctions via the Internet. Bidders can follow the auction in the salesroom, hear the live auction, and bid against the room, all in real-time. More details about the technology can be found at www.hdhwine.com.

Bidders are encouraged to attend the auction in person, but Hart Davis Hart welcomes bids by phone, fax, through the website, and via the live-bid technology. For more information, contact Hart Davis Hart at 312.482.9996 or go to hdhwine.com.

About Hart Davis Hart Wine Co.
Hart Davis Hart Wine Co. is both a dynamic retailer and an internationally prominent wine auction house, occupying a unique position in the rare wine market. We offer collectors and restaurateurs a broad range of options for buying and selling wines, providing unrivaled expertise and personalized service.

Founded in October 2004, Hart Davis Hart represents the alliance of three highly-respected industry leaders: John Hart, Michael Davis, and Paul Hart, with a combined experience of nearly 90 years in the rare wine business. John Hart, a renowned expert, has been a leader in the rare wine retail business for over three decades. With extensive careers at Christie’s, Davis & Company, and Sotheby’s, Michael Davis and Paul Hart are the most experienced wine auctioneers in America.

Hart Davis Hart has emerged as one of the most innovative and trusted sources for rare wines in America, with over 150 years of combined experience in the specialized field of fine and rare wines. No other firm can approach their level of expertise, network of relationships, or dedication to service.

Hart Davis Hart core services:
• Traditional Live Auctions
• Private Retail Services
• Online Sales
• Consultation

hdhwine.com.

Top