Hart Davis Hart Sells 100% of Lots as Prices Approach Peak 2008 Levels. 1982 Pétrus Magnums Bring $65,725

. September 15, 2009

Chicago, IL – Hart Davis Hart sold 100% of the lots offered in its auction in Chicago on Saturday, achieving $3,268,791 against a pre-sale estimate of $1,842,670 to 2,753,360. Two cases of 1982 Château Pétrus in magnum estimated to sell between $24,000 and $35,000 brought $65,725 and $59,750 respectively. The consignor bought the Pétrus magnums as futures in 1983 for $595 per case, making his return on that investment an impressive one hundred times his initial purchase price. Other highlights were the wines of Château Lafite-Rothschild, which continue to sell at staggering prices due to strong demand from Asia. Two cases of 1982 Lafite-Rothschild brought $38,240 each against a pre-sale estimate of $20,000-30,000, while three cases of 2000 Lafite-Rothschild brought a heady $20,315 each against a pre-sale estimate of $10,000-15,000.

hart-davis-hart-wine.jpg“Prices are approaching the peak levels of 2008,” said CEO Paul Hart. “We are in the midst of a huge surge in prices, and I believe that we will see continued strength through the fall season.”

Bidders participated from 41 states, as well as Puerto Rico, Brazil, Canada, China, Denmark, France, Germany, Italy, Japan, Luxembourg, Mexico, Singapore, South Korea, Spain, Switzerland, Taiwan, the United Kingdom, and Venezuela.

Collectors bidding by phone or internet competed with a number of bidders in the room. In fact, the largest single buyer of the day was in attendance. Much of the Lafite-Rothschild, Pétrus, and DRC went to Asian bidders with many of the lots hammering above the high estimate. Prices were strong across all categories, though Bordeaux and Burgundy were especially buoyant.

Commented Vice-Chairman Michael Davis: “This was an exceptional start to the fall season. The worldwide demand for fine wine has regained intensity and we are excited to fulfill that demand from Chicago, with more great wines on offer in October.”

Top Ten Lots (inclusive of 19.5% buyer’s premium):
1. Lot 201: 1982 Pétrus (6 mags)
    $65,725 (est. $24,000-35,000)
2. Lot 202: 1982 Pétrus (6 mags)
    $59,750 (est. $24,000-35,000)
3. Lot 595: 1990 Pétrus (12 bs)
    $38,240 (est. $20,000-30,000)
4. Lot 4: 1982 Lafite-Rothschild (12 bs)
    $38,240 (est. $20,000-30,000)
4. Lot 840: 1982 Lafite-Rothschild (12 bs)
    $38,240 (est. $20,000-30,000)
6. Lot 1098: 1982 Lafite-Rothschild (10 bs)
    $33,460 (est. $17,000-26,000)
7. Lot 510: 1982 Lafite-Rothschild (3 dbl mags)
    $28,680 (est. $20,000-30,000)
8. Lot 55: Assortment case of 1990 DRC (12 bs)
    $26,290 (est. $16,000-24,000)
9. Lot 874: 1982 Lafite-Rothschild (7 bs)
    $22,705 (est. $12,000-18,000)
10. Lots 702-3 & 960: 2000 Lafite- Rothschild (12 bs)
    $20,315 (est. $10,000-15,000)

Total aggregate: $3,268,791
Percent sold by lot: 100%

2009 / 2010 Auction Calendar
October 24, 2009
December 5, 2009
January 30, 2010
March 20, 2010

* The HDH Index tracks the hammer prices of fifteen wines commonly sold by HDH. The basket of wines includes benchmark Bordeaux from classic vintages such as 1982, 1986, 1989, 1990, 1995, and 2000.

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.

For more information on Hart Davis Hart Wine Co. or to arrange a media visit, please contact Marc Smoler at 312.482.9766, msmoler@hdhwine.com or visit hdhwine.com

Category: Auction News

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