This week there is a web auction here in Sweden. Today I have watched the prices on Bordeaux wines and I am amazed how little they go for. For example, Cheval Blanc 1982 for SEK 4000 = USD 600. En primeur 2009 it was about USD 1800 over here. Lots of the wines are not reaching their minimum prices and remain unsold. Is there a total collapse in the wine market coming up? Tomorrow there will be lots of DRC wines and this far it is amazing, how little people are prepared to pay for the wines. http://www.stadsauktion.se/auktion/Drycker/?sid=1
Hi Hans, man I sure hope so. But I seriously doubt it. Pricing for trophies seems robust
Brodie
Perhaps it is just a sign of your local market, but auction prices in London, HK and the US have have been very good in the last 2-3 months. Our auction 2 weeks ago sold 100% and achieved $1.7M on a low estimate of $1.3M.
Is this auction still live? Many internet auction bidders wait until the last minute to bid, so these may very well be bid up later.
Yes, it is still live until tomorrow. The Bordeaux wine however are already sold and my reaction is that a top notch Bordeaux with 20-30 years of age is worth a third of its price en primeur. That must be an indication of how silly the prices are for recent vintages?
Could be a number of factors
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Small market (I really have no idea about the Sweden wine auction market, I thought most of the real action was in NY, Lon, HK?)?
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Were these cases or 1-off bottles? Either way, questions about storage?
Of course Sweden is a small market, but through internet the whole world is able to buy the wines.
I don´t think the storage is any worse in our cold climate than in the rest of the world.
Still La Tache 2005 is less than USD 2000 ! Which is about half the price, if you look it up on Wine-Searcher !
link to the auction?
It’s in the OP.
Was a somewhat confusing site. Also not sure how to get the wine from Sweden back to either the UK or the US.
I think the story here is if you want to sell valuable wine and you want to get the best price, you have to sent it to NY or LON or HK. If you want to buy valuable wine and you don’t want to pay best price, you have to search in Sweden and other ‘off the run’ locations (no insult intended!)
Yes, I understand than Sweden is a ducks pond in comparison with the rest of the world, but still there are quite a few people around who likes wine. In this auction none of the La Tache 2009 reached there minimum prices and remained unsold. La Tache 2005 went for about USD 2300. Isn`t that quite low?
Hammer prices in the US & HK on 2005 are around $2500-3000, most of them on the lower end of that range.
What is the buyer’s premium in that auction? US auction houses typically charge 20-23%.
The charge here is 15%.
What were the sellers trying to get for the '09 La Tache? This wine only ‘came out’ in the last year or so, so very hard to get a big premium? I’d think anything above $2000 equivalents would be very tough for at least 3 more years? And getting to $2,500 will take 5-7 years after release?