Aubrey McClendon's Massive Bordeaux collection going to auction

[John_Morris]

I don’t see the problem, Don. These are assets of his estate, I assume, so the proceeds will go to his family – or civil antitrust plaintiffs.

(FYI, the bid-rigging isn’t the only stain on his reputation. He was sacked at Chesapeake over self-dealing issues and loans from the corporation.)

I understand Duke University is in a difficult position because he was a huge donor and his name is plastered on all sorts of things.

[Don_Cornwell]

@John Morris

I don’t see the problem, Don. These are assets of his estate, I assume, so the proceeds will go to his family – or civil antitrust plaintiffs.

(FYI, the bid-rigging isn’t the only stain on his reputation. He was sacked at Chesapeake over self-dealing issues and loans from the corporation.)

I understand Duke University is in a difficult position because he was a huge donor and his name is plastered on all sorts of things.

John:

I certainly understand the viewpoint that since Mr. McClendon is deceased, selling wines for his estate isn’t the same as selling the same wines would be were Aubrey still alive and awaiting trial. But then why aren’t the wines being just being sold without the Aubrey McClendon name attached to the wines? With Aubrey’s name attached to the wines, it strikes me as unseemly at least, if not more. That’s what bothers me.

[Tim_Heaton]

Sorry, Arv, but I don’t see anyone raising a glass to AM, other than the house’s rake at HDH. Maybe I read your post incorrectly, but what people like AM ‘unleash’ is, nothing but heartache and misery in a greed-is-good belief.

[A_Ballin]

Isn’t it better to be transparent and tell everyone exactly where it came from? I would have thought more transparency in the auction world is better than less.

[Markus_S]

@John Morris

I understand Duke University is in a difficult position because he was a huge donor and his name is plastered on all sorts of things.

I wouldn’t worry about Duke

[R_Gilbane]

Couldn’t resist looking at the collection on HDH. The large format collection is ridiculous to the point of being completely farcical. There are four 18L bottles of Cheval Blanc alone. I know he perished in a car wreck but being crushed to death by one of the melchoir bottlings would have been so much more appropos.

[John_Morris]

@Markus S

@John Morris

I understand Duke University is in a difficult position because he was a huge donor and his name is plastered on all sorts of things.

I wouldn’t worry about Duke

The university has put in a $9.9 million claim against the estate for unpaid charitable pledges out of a total of more than $20 million promised.

[james_l_moleberg]

@Don Cornwell

I also know of two instances in 2014-15 in which counterfeit DRC Methuselahs that Mr. McClendon purchased that were made by Rudy Kurniawan were sold via a unlicensed North Carolina retailer. (More to come on that later.) ****

is this the same North Carolina retailer that was involved in the French Laundry heists? If so, I can’t think that was a coincidence.

[Don_Cornwell]

@james l moleberg

@Don Cornwell

I also know of two instances in 2014-15 in which counterfeit DRC Methuselahs that Mr. McClendon purchased that were made by Rudy Kurniawan were sold via a unlicensed North Carolina retailer. (More to come on that later.) ****

is this the same North Carolina retailer that was involved in the French Laundry heists? If so, I can’t think that was a coincidence.

James:

You are absolutely correct about that.

[Steve_Eisenhauer]

@Todd F r e n c h

None of which I’ll be able to afford, unfortunately. Wish people would collect affordable Bordeaux

People drink affordable Bordeaux.

[M_McCombs]

Wow! He went long on 03 Pavie. Nothing smaller than 3L, by volume about 10 cases of 750s. How many here are going to bid on those?

[Arv_R]

@Tim Heaton

Sorry, Arv, but I don’t see anyone raising a glass to AM, other than the house’s rake at HDH. Maybe I read your post incorrectly, but what people like AM ‘unleash’ is, nothing but heartache and misery in a greed-is-good belief.

Like I said, a complex guy, and not an angel (for investors) but he’s had a hand in flooding the US with cheap oil and gas. $2.50 / gal gasoline is a tremendous gift to those struggling on the lower rungs of the US economic ladder. It also increases our foreign policy flexibility when we are less beholden to foreign energy.

I am not sure why people would be irate at HDH for helping dispose of these assets. Having his name associated with this sale likely increases the net proceeds, given his reputation for collecting. And whether its his family, or his oh so many creditors, maximizing the value received is in the sellers / intermediaries interest.

It is interesting that the sale is happening so quickly though - normally it takes a while to liquidate estates, especially large ones, and this doesn’t strike me as the absolutely first thing one needs to get rid of. But who knows, maybe these were pledged/collateral for a loan, and perhaps that contract specified his name could be used in disposing of them, as a subtle way to coax him to stay current on the loan. Some collectors prefer discretion when selling, and perhaps someone constantly soliciting investors would have been more keen to project an image of prosperity.

[David_J]

I followed this live. The same guy bought nearly all that 2000 mouton.

[A_So]

Prices were crazy today. The sale realized about 8% under the high estimate.

Congratulations to HDH on a very, very successful auction, and to me for escaping with my credit card unscathed (a first since 2011 or 2012).

[Marc_Hauser]

I bid on two lots, both of which went (not to me) for multiples of the high estimate.

[CJ_Beazley]

@Arv R

@Tim Heaton

Sorry, Arv, but I don’t see anyone raising a glass to AM, other than the house’s rake at HDH. Maybe I read your post incorrectly, but what people like AM ‘unleash’ is, nothing but heartache and misery in a greed-is-good belief.

Like I said, a complex guy, and not an angel (for investors) but he’s had a hand in flooding the US with cheap oil and gas. $2.50 / gal gasoline is a tremendous gift to those struggling on the lower rungs of the US economic ladder. It also increases our foreign policy flexibility when we are less beholden to foreign energy.

I am not sure why people would be irate at HDH for helping dispose of these assets. Having his name associated with this sale likely increases the net proceeds, given his reputation for collecting. And whether its his family, or his oh so many creditors, maximizing the value received is in the sellers / intermediaries interest.

It is interesting that the sale is happening so quickly though - normally it takes a while to liquidate estates, especially large ones, and this doesn’t strike me as the absolutely first thing one needs to get rid of. But who knows, maybe these were pledged/collateral for a loan, and perhaps that contract specified his name could be used in disposing of them, as a subtle way to coax him to stay current on the loan. Some collectors prefer discretion when selling, and perhaps someone constantly soliciting investors would have been more keen to project an image of prosperity.

Ask the people of Oklahoma who’s houses and buildings have been destroyed by the some 1800 earthquakes how cheap that gas is.