First Cape Fine & Rare Wine Auction a success in Stellenbosch…

Charlie Foley, of Christie’s London, was Auctioneer at the Cape Fine & Rare Wine Auction

Cape Fine & Rare Wine Auction applauds the positive bidder sentiment, and Global and Local wine commentators are unanimous in their enthusiasm for the high quality of wines South African winemakers have achieved in the past few years. Nowhere was this unstinting fervour more adequately captured than this weekend’s Cape Fine & Rare Wine Auction, formerly known as the Nederburg Auction. At the end of play on Saturday 19 October2019, collective hammer prices were captured totalling R 2 623 000.The new-format auction aims to create an industry-led platform showcasing the finest and rarest South African wines to wine enthusiasts, investors and collectors worldwide. The auction was held in association with acclaimed auction house, Christie’s. This year, the enigmatic Charlie Foley brought down the gavel on 124 of SA’s finest wines during an impressive showcase of spirited bidding. With a reputation comparable to that of the famous Hospices de Beaune Auction in France and Kloster Eberbach in Germany, the Cape Fine & Rare Wine Auction further embedded its status as South Africa’s leading wine auction with impressive numbers to match.

The Tsogo Sun Team buying

On Saturday afternoon, the unaudited results showed that just under 3000 litres of wine was sold, with an all-time auction high rand per bottle of R660 on average for 750ml,  a 12% increase on last year’s R590.The average price per bottle of white wine was R471 for a 750 ml bottle.

Highest bid received was for Le Lude Agrafe 2012, which sold for R1034 per bottle. The average for fortified was R415 per bottle. Reflecting the collectable value of unbroken verticals, this year’s auction included a rare double vertical of The Sadie Family Wines Columella 2001-2012 (750mls) and 2005-2016 (1.5ℓ). This fine collection sparked competitive bidding, finally collecting a hammer price of R75 000, sold to Conservation Company, Singita, one of the biggest buyers at this year’s auction collecting 10.8% of total sales.

Read more about the Auction – CLICK HERE

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October 20th, 2019|Categories: Michael's Writings|Tags: , |