How much does the original wood case increase the value of a particular wine??? At the recent Hart Davis auction (not charity) lots sold for greater than you could buy at retail. Any explanation?
The OWC always increases the value of a lot. How much depends on the individual buyer. I think anyone who buys something at auction for more than retail isnt using their noggin. Especially tacking on the buyers premium and shipping if you dont live close. Some people get caught up the moment or have a p@$sing contest with someone else and others might not know current wine prices very well. I dont get why people do it but they do.
Location: Chicago Number of Lots: 433 Percent Sold: 100
Pre-sale low estimate: $1,204,010 (exclusive of the buyer’s premium) Pre-sale high estimate: $1,805,060 (exclusive of the buyer’s premium) Sale Total: $1,894,350 (inclusive of the 19.5 percent buyer’s premium)
Hart Davis Hart pulled off its second auction to achieve a 100 percent sell-through rate this quarter on June 6, with a little over 50 percent of wines tracked by Wine Spectator rising above their previous auction index averages. Adding to this, their sale total also tipped above the presale estimate high, demonstrating that, hopefully, demand is rebounding within the auction market.
The highest selling lot was six magnums of Lafite Rothschild 1982, which fetched $28,680, up an impressive 77 percent from its Wine Spectator Auction Index average. Also on the block was a full case of Château Palmer 1961 that traded for $22,705 (up 64 percent).
Originally posted by chrisinroch: So much for a soft economy. Here are the stats...
Location: Chicago Number of Lots: 433 Percent Sold: 100
Pre-sale low estimate: $1,204,010 (exclusive of the buyer’s premium) Pre-sale high estimate: $1,805,060 (exclusive of the buyer’s premium) Sale Total: $1,894,350 (inclusive of the 19.5 percent buyer’s premium)
Hart Davis Hart pulled off its second auction to achieve a 100 percent sell-through rate this quarter on June 6, with a little over 50 percent of wines tracked by Wine Spectator rising above their previous auction index averages. Adding to this, their sale total also tipped above the presale estimate high, demonstrating that, hopefully, demand is rebounding within the auction market.
Not to split hairs and I could very well be missing something, but if the high estimate exclusive of buyer's premium was $1,805,060 and the total sales inclusive of a 19.5% buyer's premium was $1,894,350, that means that the total sales exclusive of buyer's premium were $1,585,230, which is somewhere in between the low and high pre-auction estimate.
In any case your point stands, people are spending serious $$ at these things.
This message has been edited. Last edited by: Dunder,
Posts: 1230 | Location: Vancouver | Registered: Feb 19, 2008
depends on the item. Last night's auction at Acker, had '03 Pavie Macquin starting at $450 a case, final hammer price was $700, with 21% buyers premium it amounts to roughly $840. This corresponds to aruond $70/bottle. Much less than most retailers in the US which has the price above $100/bottle
