The Burgundy Boom Has Begun
A giant bottle of 2002 burgundy just sold for a record price.
If you needed more proof that a Burgundy boom is upon us, this big bottle is it.
A rare methuselah of 2002 Domaine de la Romanée-Conti (DRC) sold for an astonishing approx. $554,040 at Acker’s Hong Kong auction over the weekend, setting a new world record in the process.
The sale, which attracted more than approx. $16.6 million in full, comprised a sizable collection of DRC and Leroy that together was responsible for some 45 per cent of the revenue and more than 100 new world records. It comes shortly after the auction house posted approx. $34 million in September sales, and is further proof that global demand for the famed French red is accelerating at a dizzying rate,
“We are in the midst of a momentum and a market I have not seen in 25 years of doing wine auctions,” Acker’s chairman John Kapon said in a statement. “The Burgundy market is literally doubling right before our very eyes.”
The sought-after 6-litre DRC was followed by a lot featuring half a dozen bottles of prized 1993 Domaine Leroy Musigny (above) that hammered down for a record-breaking $339,588 Other highlights included an original wooden case of coveted 2002 D’Auvenay (Leroy) Chevalier Montrachet that realized $321,714; three rare jeroboams of 1985 DRC Richebourg that sold for $285,969; and a dozen bottles of 1996 D’Auvenay (Leroy) Chevalier Montrachet that went for $232,349.
“Both buyers and sellers should pay close attention,” added Kapon. “For those fortunate to have owned Burgundy for years, you may very well have a newly minted retirement fund, ready for market.”
While Burgundy dominated the auction, it wasn’t the only French varietal attracting impressive figures. According to Acker, Bordeaux quietly achieved 35 per cent of the day’s totals, suggesting that there’s a thirst for fine wine across the board.
Acker can help quench that thirst, too. The auctioneer is holding a single cellar sale on October 14 that will be dedicated to the collection of noted oenophile Dr. Ivan Volent. Acker is also currently accepting wines for its fall auctions, should you want to add a few extra dollars into that retirement fund.