Strong Start to 2011 with Wine Prices Up 10% as Hart Davis Hart Sells 100% of Lots for $4.6 Million

. February 1, 2011 . 0 Comments

Hart Davis Hart, America’s largest wine auction house, opened 2011 with a highly-charged auction of finest and rarest wines, selling 100% of lots and posting $4.6 million in sales against a pre-sale auction estimate of $2.9m-$4.3m, and achieving a 10% increase in prices over December. Attendees filled the auction room in downtown Chicago to near capacity, competing actively with absentee bidders from 40 states as well as Australia, Brazil, Canada, China, France, Germany, Japan, Macau, Malaysia, Mexico, Singapore, South Korea, Spain, Switzerland, Taiwan, the United Arab Emirates, and the United Kingdom.

“We were delighted to welcome a room full of bidders over the weekend, and based on the results of this auction we’re very excited for 2011,” commented Hart Davis Hart Vice Chairman Michael Davis. The auction was held at TRU restaurant in downtown Chicago, and bidders in attendance were treated to special tastings paired with signature dishes including 1991 Dominus served alongside a vanilla-roasted fig tarte tatine, and the 1986, 1993, and 1994 Château Haut-Brion paired with foie gras-stuffed prunes and an Earl Grey-smoked Kampachi with red currant reduction.

Classified Bordeaux continued to trend upward, most notably in the top vintages of the past two decades. Several cases of 1996 Château Lafite Rothschild (estimate $19,000-$24,000) reached $26,290 each, and a case of 2000 Château Lafite (estimate $20,000-$30,000) brought in $33,460. A six-bottle lot of 2000 Château Pétrus (estimate $17,000-$26,000) and one case of 1982 Château Latour (estimate $13,000-$19,000) each sold for $26,290, while the top lot of the day was a case of 1982 Château Lafite, which realized $65,725 against an estimate of $38,000-$55,000.

Burgundy collectors were very active as well, with six bottles of 2000 Romanée-Conti, Domaine de la Romanée-Conti (estimate $22,000-$32,000) selling for $50,190, and a six bottle offering of 2001 Montrachet, Domaine de la Romanée-Conti (estimate $10,000-$15,000) fetching $26,290. The auction was brimming with rare Californian wines, including a remarkable range of Harlan Estate and Screaming Eagle. Highlights included a three bottle lot of 1997 Screaming Eagle (estimate $5,500-$8,500), which sold for $8,963.

Hart Davis Hart’s next auction, entitled “The Lafite Auction,” will be held on March 19th. This multi-million dollar sale will exclusively feature the wines of Château Lafite Rothschild. It will be the world’s largest selection of Lafite ever to be offered at auction.

Top Lots (inclusive of 19.5% buyer’s premium):
Lot 861: 1982 Château Lafite Rothschild (12 bs) (est. $38,000-55,000) $65,725
Lot 834: 2000 Romanée-Conti Domaine de la Romanée-Conti (6 bs) (est. $22,000-32,000) $50,190
Lots 18, 307, 1238: 2000 Château Lafite Rothschild (12 bs) (est. $20,000-30,000) $33,460
Lots 6, 162: 1986 Château Lafite Rothschild (12 bs) (est. $16,000-24,000) $26,290
Lot 846: 2001 Montrachet Domaine de la Romanée-Conti (6 bs) (est. $13,000-19,000) $26,290
Lot 862: 1982 Château Latour (12 bs) (est. $13,000-19,000) $26,290
Lot 1182: 2000 Château Pétrus (6 bs) (est. $17,000-26,000) $26,290
Lot 735: 1996 Château Lafite Rothschild (12 bs) (est. $16,000-24,000) $26,290
Lot 2: 1982 Château Lafite Rothschild (6 bs) (est. $19,000-28,000) $22,705
Lot 13,747,900,901: 1996 Château Lafite Rothschild (12bs) (est. $14,000-20,000) $22,705

Sale Stats
Percent sold by lot: 100%
Total Aggregate: $4,665,483
Low Pre-Sale Estimate: $2,888,050
High Pre-Sale Estimate: $4,307,640

2011 Auction Calendar
March 19, 2011
May 7, 2011
June 18, 2011

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

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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