Hart Davis Hart Sells 100% of Lots as Results Soar Above Pre-Auction Projections, Bringing in $5.3 Million

. September 20, 2011 . 0 Comments

A Blockbuster Auction in Chicago Launches Fall Season

(Chicago, IL) – Hart Davis Hart launched its Fall season with great aplomb on Saturday, September 17th in Chicago, selling 100% of the lots offered and achieving $5.3 million, well above the pre-auction estimate of $3,430,990 to $5,139,310.

There was a full house of bidders in the dining room of award-winning restaurant Tru, fueling energetic demand for wines in all categories. Buyers from across the country were in attendance, competing throughout the day with bidders following along on the internet and over the phone. Altogether, bidders in the auction represented 37 states, the District of Columbia and Puerto Rico, as well as Australia, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, Japan, Macau, Mexico, Singapore, South Korea, Switzerland, Thailand, and the United Kingdom.

“This was the most energetic bidding we’ve seen in months. Overall prices have not been this high in relation to the estimate range since January,” commented CEO Paul Hart.

Although Bordeaux prices rose slightly, bidding was particularly heated for wines from top Burgundy estates such as Domaine de la Romanée-Conti. A 1990 Assortment commanded $50,190 against a pre-auction estimate of $32,000 – $48,000 while bidding also soared above the high end of the estimate range for a case of 1990 Grands-Echézeaux, climbing to $21,510 (estimate $9,500 – $14,000).

“A perplexed bidder who had come to the auction prepared to buy extensively told me with a smile that he was having trouble winning any lots,” noted Vice-Chairman Michael Davis. “This was an exceptional start to the fall season with worldwide demand for fine wine gaining strength in Chicago. More great wines will be on offer in October.”

Top Lots (inclusive of 19.5% buyer’s premium):
Lot 240: 1990 La Tâche DRC (12 bs) (est. $32,000-48,000) $53,775
Lot 239: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $50,190
Lot 236: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $47,800
Lot 930: 1982 Château Lafite Rothschild (12 bs) (est. $30,000-45,000) $47,800
Lot 36: 1982 Château Lafite Rothschild (12 bs) (est. $30,000-45,000) $45,410
Lot 237: 1990 DRC Assortment (12 bs) (est. $28,000-42,000) $45,410
Lots 147, 148: 1989 Château Pétrus (12 bs) (est. $28,000-42,000) $41,825
Lot 57: 1982 Château Lafleur (12 bs) (est. $24,000-35,000) $38,240
Lots 145, 146: 1989 Château Pétrus (12 bs) (est. $28,000-42,000) $38,240
Lot 241: 1990 Richebourg DRC (12 bs) (est. $18,000-28,000) $31,070

Sale Stats
Percent sold by lot: 100%
Total Aggregate: $5,295,116
Low Pre-Sale Estimate: $3,430,990
High Pre-Sale Estimate: $5,139,310

2011 Auction Calendar
October 29, 2011
December 10, 2011
January 28, 2012

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. visit hdhwine.com.

Category: Auction News

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