Hart Davis Hart’s February Sale Surpasses High Estimate

. February 24, 2016

(Chicago, IL) – Hart Davis Hart Wine Co., the largest wine auction house in the US, kicked off what promises to be a tremendous auction year with a blockbuster 100% sold February auction that brought in a total of $6.3 million against presale estimates of $4.1-6.2 million.

Hart Davis HartHammer prices in this auction were the highest since September 2014. The quality and breadth of HDH’s February sale elicited passionate bidding from collectors spanning five continents (including 39 states within the US). A near-record number of participants led 54% of all lots in the sale to exceed their high estimates. These impressive results indicate a resurgence in the wine auction market and solidify Hart Davis Hart’s position as the largest wine auction house in the U.S.

The two-day auction featured remarkable treasures from virtually every wine and spirit region. A library of Madeira from the iconic cellar of Mr. Lenoir Josey achieved truly remarkable results. There was a flurry of bidding for the 96 lots of rarest Madeira, which triggered 88 lots to sell above their high estimates. Highlights from this remarkable parcel include three bottles of 1880 Blandy’s Malmsey Madeira that garnered $6,500 (est. $2,200-3,200) and a single bottle of 1875 D’Oliveira Malvazia Reserva Madeira that brought in $2,400 (est. $500-625).

Never far from the spotlight, classic Burgundy saw a host of enthusiasm; offerings from the region attained $2.6 million against pre-sale estimates of $1.6-2.4 million. Wines from Vogüé, Leroy, Dujac, Rousseau, DRC, Jayer and others achieved particularly strong prices, including three bottles of 1988 Echézeaux, Henri Jayer that sold for $13,145 (est. $6,500-9,500) and three magnums of 2012 Chambertin, Clos de Bèze, Armand Rousseau that sold for $8,962 (est. $4,200-6,500). As a category, Burgundy achieved the strongest hammer prices since February of 2015. Vintage Bordeaux achieved similarly robust results, totaling $2.2 million (pre-sale est. $1.5-2.2 million). First Growths and “Super Seconds” from renowned vintages like 1982, 1986, 1989, and 2005 fared particularly well. As a result, the Bordeaux index increased by 14%, rising to its highest point since October of 2014.

Other Old World wines from the Rhône Valley, Italy and Spain also continued to command top prices, including 5 bottles of 1990 Brunello di Montalcino Riserva, Case Basse (G. Soldera) that brought in $6,572 (est. $3,800-5,500) and a single bottle of 1998 Ermitage, Cuvée Cathelin, J. L. Chave that garnered $3,346 (est. $1,400-1,700). Wines from the new world also piqued the interest of bidders; of particular note were the 34 lots of Opus One that realized $65,725 against presale estimates of $42,250-62,950.

Highlights:
• Blandy’s: 19 lots sold for $47,438 (est. $20,050-29,550)
• Shortridge Lawton & Co.: 22 lots sold for $43,438 (est. $23,150-34,850)
• Domaine de la Romanée-Conti: 163 lots sold for $1,633,744.25 (est. $1,116,550-1,679,500)
• Henri Jayer: 14 lots sold for $224,540 (est. $147,900-217,400)
• Armand Rousseau: 27 lots sold for $114,302 (est. $71,520-108,220
• Domaine Dujac: 25 lots sold for $62,678 (est. $40,680-59,830)
• Comte Georges de Vogüé: 19 lots sold for $39,555 (est. $24,050 -35,850)
• Château Lafite Rothschild: 67 lots sold for $427,152 (est. $292,650-$434,550)
• Château Pétrus: 28 lots sold for $291,341 (est. $204,550 -302,200)
• Château Mouton Rothschild: 51 lots sold for $238,701 (est. $158,450-237,100)
• Château Pichon-Longueville, Lalande: 44 lots sold for $84,331 (est. $59,970-88,980)
• Château La Mission Haut-Brion: 17 lots sold for $56,225 (est. $38,900-58,200)
• J. L. Chave: 8 lots sold for $42,064 (est. $25,600 -38,000)
• Opus One: 31 lots sold for $62,499 (est. $40,450-60,250)

HDH has a proven track record of excellence, and continues to exceed its competition in terms of market share and sell-through rate. HDH’s next sale will be our 5th annual Celebration of Burgundy auction on the weekend of April 2nd. Consignments are still being accepted for the Burgundy auction through the end of this week. Don’t miss the opportunity to consign your wine in this strong market with America’s #1 auction house.

For more information on Hart Davis Hart Wine Co. or to arrange a media visit, please contact Chelsea Ball at 312.667.1161, cball@hdhwine.com or visit hdhwine.com

Category: Auction News

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