HDH #1 in World’s Largest Wine Market
(Chicago, IL) – Hart Davis Hart Wine Co., the #1 wine auction house in the US, kicked off what promises to be a tremendous fall season with a blockbuster 100% sold September auction that brought in a total of $6.6 million against presale estimates of $4.3 – $6.5 million. The sale’s unparalleled quality and breadth attracted a record number of participants, whose aggressive bids drove more than half of the 2443 lots to sell above their high estimates. The international wine auction market is projected to be over $300 million USD in 2014, with US auction sales comprising over half that total (40% more than Hong Kong). With its phenomenal September results, HDH continues to dominate the US market with over $30 million in auction sales, exceeding its nearest competitor by over 70%.
A highlight of the September sale was the collection offered as “A Superlative Selection of Wine from a Magnificent Long Island Cellar.” This pristine collection read like a wish list of the most sought-after Burgundy in the world, all of which had been stored under ideal temperature and humidity conditions in a custom-built cellar. The consignor also provided HDH with original receipts substantiating the careful sourcing of wines. Many lots for this selection opened far above their high estimates, with more than 70% of the lots selling above the high and bringing in $1.6 million against presale estimates of $1.0-1.5 million. This group’s performance undeniably shows the extent to which buyers value provenance.
Held at the award-winning TRU restaurant in Chicago, the sale welcomed aggressive bidding from a record number of bidders spanning 5 continents. This unparalleled number of bidders was undoubtedly due in part to the remarkable depth, breadth and quality of the sale. With 2443 lots, the two-day auction featured treasures from virtually every wine and spirit region. These included nearly 800 lots of red Burgundy, 570 lots of red Bordeaux, 259 lots of California Cabernet Sauvignon.
Sale highlights:
• Rousseau: 74 lots sold for $478,916 (presale estimate $274,150-408,400)
• Leroy: 71 lots sold for $360,630 (presale estimate $212,400-315,850)
• Dujac: 61 lots sold for $196,231 (presale estimate $112,600-168,150)
• Leflaive: 59 lots sold for $160,924 (presale estimate $103,070-154,600)
• Domaine de la Romanee-Conti: 86 lots sold for $850,493 (presale estimate $578,550-865700)
• First Growth Bordeaux: 181 lots sold for $705,884 (presale estimate $496,320-738,380)
• Harlan: 40 lots sold for $139,766 (presale estimate $83,150-123,700)
• Screaming Eagle: 17 lots sold for $67,354 (presale estimate $39,300-58,300)
“The unprecedented amount of demand we saw in this sale speaks to both the state of the market, and the strength of HDH,” commented President Ben Nelson. “HDH’s uniquely high standards for quality and provenance give buyers an unmatched ability to bid with confidence, and the turnout we’ve seen this weekend shows how powerful that confidence can be.”
Burgundy results continue to be robust—particularly for the wines from the region’s biggest names. Wines from DRC claimed 7 of the top 10 lots of the sale, while two incredibly rare bottles of 1994 Jayer Rosé sold for an astounding $2380 against estimates of $120-180 (perhaps the most ever paid for rosé). Supporting recent trends, Bordeaux sale prices are on the rise. Particularly strong results were seen with Bordeaux from 1989, 1995, 1996 and 2005, and with wines from Ausone, Lynch-Bages, Margaux, Montrose, Pavie, Palmer, Pichon Baron and Pichon Lalande (among many others) all hammering significantly above their midpoint estimates. The HDH Bordeaux index rose 3.63% as of the sale.
As the #1 wine auction house in the US for the past three years, 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 take place the weekend of November 1st, and will be devoted exclusively to the wines of Bordeaux. Consignments are still being accepted for the Bordeaux sale through the end of this week.
Top Lots by Price (inclusive of 19.5% buyer’s premium):
Lot 1019: 1999 La Tâche, DRC (12 bs) (est. $30,000-45,000) $47,600
Lot 182: 1982 Château Pétrus (10 bs) (est. $28,000-42,000) $38,080
Lots 1015-1017: 1999 DRC Assortment (12 bs) (est. $26,000-38,000) $33,320
Lot 1859: 2007 Romanée-Conti, DRC (3 bs) (est. $22,000-32,000) $33,320
Lot 2214: 1982 Château Lafite Rothschild (12 bs) (est. $26,000-38,000) $30,940
Lot 1177: 1993 Chambertin, Armand Rousseau (12 bs) (est. $15,000-22,000) $30,940
Lots 1005-1007: 1996 DRC Assortment (12 bs) (est. $20,000-30,000) $28,560
Lot 1008: 1996 La Tâche, DRC (12 bs) (est. $18,000-28,000) $28,560
Lot 1004: 1995 DRC Assortment (12 bs) (est. $20,000-30,000) $28,560
Lot 1012: 1998 La Tâche, DRC (12 bs) (est. $15,000-22,000) $26,180
Top Lots to Exceed High Estimates (inclusive of 19.5% buyer’s premium):
Lot 1294: 1994 Bourgogne Rosé, Henri Jayer (2 bs) (est. $120-180) $2,380
Lot 762: 1985 Alain Robert, Mesnil Sélection (2 bs and 4 mags) (est. $1000-1500) $4,165
Lot 1215: 1991 Vosne-Romanée, Beaux Monts, Emmanuel Rouget (3 bs) (est. $280-420) $1,071
Lot 1579: 1997 Côte Rôtie, Domaine Jamet (6 bs); 1997 Côte Rôtie, Les Sommets d’Harys, Domaine Jamet (3 bs) (est. $750-1100) $2,618
Lot 843: NV Eagle Rare 17 Year Old Straight Bourbon Whiskey (5 bs) (est. $500-750) $1,785
Lot 200: 1978 Gevrey-Chambertin, Combottes, Domaine Dujac (1 b) (est. $300-450) $1,011
Lot 1346: 1980 La Tâche, DRC (1 b) (est. $1,400-2,000) $3,808
Lot 1575: 1999 Côte Rôtie, Domaine Jamet (6 bs) (est. $950-1,400) $2,618
Lot 2122: 1983 Musigny, Georges Roumier (1 b) (est. $1100-1700) $3,094
Lot 1434: 1993 Chambertin, Clos de Bèze, Armand Rousseau (6 bs) (est. $8,000-12,000) $21,420
Sale Stats
Percent sold by lot: 100%
Total Aggregate: $6,569,763
Low Pre-Sale Estimate: $4,311,630
High Pre-Sale Estimate: $6,437,000
Auction Calendar
November 1, 2014
December 13, 2014
February 7, 2015
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 provide unrivaled expertise and personalized service to collectors and the wine trade, and offer a broad range of options for buying and selling wine.
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, [email protected] or visit hdhwine.com.
