NEW YORK--(EON: Enhanced Online News)--Collectors worldwide came to buy and buy big at Acker Merrall’s first auction of the Fall in New York City on September 7th. Over 95% of all lots sold, and $3.15 million in revenue showed a robust auction market heading into the Fall season. Bidders participated actively live in the room and live online, with noticeable increases in both percentages of successful buyers compared to late Spring.
The weekend’s results also saw the continuation of three important trends. Burgundy’s appeal among collectors shows no signs of fading as the region led the day’s tally of 92 new world records with 53. Bordeaux continues to rejuvenate as collectors replenish their cellars. Twelve of the day’s top twenty-five lots were from Bordeaux, led by Petrus, Lafite, Latour and Mouton. And the diversification of the global auction market continues - California grabbed five of the top twenty-five lots, led by Screaming Eagle and Harlan, with Italy elegantly grabbing a slot among the top performers via Giacomo Conterno’s Barolo Montfortino.
DRC remains the shining star of the entire fine wine market. Collectors bid aggressively on the auction’s top lot, a banded OWC of the 1999 DRC Assortment, selling for $46,740. 2008 La Tache was in demand via two six-bottle OWCs, sold as a single lot for $29,520, making it the number four lot of the sale. A savvy buyer completed DRC’s dominance of the top five with their purchase of the 2000 DRC Assortment in OWC for $27,060. Over 90 lots of DRC will be available in Acker Asia’s September 13-14 auction this coming weekend.
“This was a great kickoff to our Fall auction season. It wasn’t just the usual suspects that drew all the excitement, either. It’s becoming redundant to say that Burgundy is in high demand, but I’ll say it again. There just aren’t enough of the top wines to go around. Saturday’s auction also proved that there is more to the market than just Bordeaux and Burgundy, with everything on offer drawing significant interest. We also saw increased demand domestically, with almost 80% of all lots staying put in the USA, more than usual. The American market is getting stronger, we’ll see what China has to say this coming weekend. It looks to be an exciting Fall season for the fine wine market.”
Acker Asia’s Hong Kong auction will be held on September 13th at the Island Shangri-La and Grissini at the Grand Hyatt on September 14th. The catalog can be downloaded at http://www.ackerwines.com/auctions.cfm. For more information you can also visit www.ackerasia.com.
About Acker Merrall & Condit
Founded in 1820, Acker Merrall & Condit is America’s oldest fine wine merchant and the world’s largest wine auction house. With affiliates in New York, Chicago and Hong Kong, the companies hold more than twenty-five auctions a year, including Internet auctions. They are devoted to helping their customers buy and sell the best wines, and also to sharing with them the experience of enjoying wine. In recent years, the company has greatly expanded its services to education, tastings and the formation of wine clubs. Three generations of the Kapon family have been dedicated to bringing the best from the vine to their customers.